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How much should he deposit today into his account

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Reference no: EM132011908

Maintenance costs for a vehicle are $500 for the first year and increase by 150 dollars each year. If Joe wants to set money aside today to cover all of the costs for the car for the next 10 years, how much should he deposit today into his account if it earns 5% interest each year.

Reference no: EM132011908

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