Question: For the same contractor in question 5 , if it can buy a 4year maintenance contract with a uniform monthly payment of $339, given the

For the same contractor in question 5 , if it can buy a 4year maintenance contract with a uniform monthly payment of $339, given the same annual interest rate is 6%, what is the present value of the maintenance contract? A contractor estimates maintenance costs fur a new backhoe to be $229 for the first month with a monthly increase of 0.5%. If the annual interest rate is 6%. The contractor is planning to sell it after 4 year. What is the present value of the maintenance cost

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