A man is buying a small garden tractor. There will beno
Chapter , Problem 4-71(choose chapter or problem)
A man is buying a small garden tractor. There will beno maintenance cost during the first 2 years becausethe tractor is sold with 2 years free maintenance. Forthe third year, the maintenance is estimated at $80. Insubsequent years the maintenance cost will increaseby $40 peryear.How much would needto be setasidenow at 8% interest to pay the maintenance costs onthe tractor for the first 6 years of ownership?
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