1.   The maintenance cost for equipment has been $10,000 per year for the past six years. The interest rate was 6% per year compounding monthly for the first two years, 7% for the third year, and 8% per year compounding quarterly for the last three years. What is the equivalent maintenance cost at now?

Answer rating: 100% (QA)

Heres how to calculate the equivalent maintenance cost at present considering the compounding intere... View the full answer