How much should be set aside for maintenance

Reference no: EM132141976

Question: The cost of maintaining a new care is estimated at $295 the first year and to increase by $50 each year thereafter. How much should be set aside for maintenance, if the car is to be kept 10 years and if the money which is set aside earns interest at the rate of 6% per year, compounded continuously?

Reference no: EM132141976

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