The company estimates the maintenance costs for a small

Reference no: EM13590966

The company estimates the maintenance costs for a small bridge to be $2000 per year for the first five years after which the maintenance will increase by 5% per year. The estimated life of the bridge is 30 years. What amount of money should be placed in an account now to cover these expenses if the amount will be invested at 3%?

Reference no: EM13590966

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