Maintenance for a certain type of machine

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A manufacturing company is planning to set aside $75,000 now and $120,000 one year from now for possible maintenance for a certain type of machine. If the maintenance won't be needed for 4 years, how much will the company have in the account, if it earns interest at a rate of 8% per year? Solve it using: Standard notation, Formula.A manufacturing company is planning to set aside $75,000 now and $120,000 one year from now for possible maintenance for a certain type of machine. If the maintenance won't be needed for 4 years, how much will the company have in the account, if it earns interest at a rate of 8% per year? Solve it using: Standard notation, Formula.

Reference no: EM131239640

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