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Example 3.8 The maintenance on a transit bus system amounts to $20,000 by the end of the first year, increasing $5000/yr for the subsequent 5 yr. What is the equivalent uniform series cost each year with interest at 5% per annum? Solution A G 5,000 5 X 5.000 0.05 (1+1)- 1 0.05 0.05 (1.05)' - 1 5,000 5 X 5.000 (0.1809748) = 1000,000 - 90,487.40 = $9.512.60 0.05 0.05 Therefore, the uniform series equivalent annual cost is: 20,000 + 9,512.60 = $29,512.60 for each of the 5 yr