Here we have an IBM System/7 introduced in 1970. The box featured a 400-nanosecond cycle time; 16-bit word length with byte parity checking; and 2,048 to 16,384 words of monolithic storage in 2,048-word increments. According to IBM: Monthly rental was $352 for the smallest IBM System/7, including the processor, 2,048 words of monolithic memory and one input-output module.
The purchase price was $16,060. Additional memory increments of 2,048 words rent for $105, or can be purchased for $3,675. The first customer delivery of an IBM System/7 was made on Sept. 16, 1971, to American Motors Corporation (AMC) at Kenosha, Wis.