You want to buy a car with estimated maintenance costs shown in the table below. Assuming you
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Question:
- You want to buy a car with estimated maintenance costs shown in the table below. Assuming you can get 6 % interest on your money (hah!), how much money should you put in the bank NOW to provide for those maintenance costs? Show any associated cash-flow diagrams.
Year | Cost of Maintenance |
1 | $150 |
2 | $190 |
3 | $230 |
4 | $270 |
5 | $310 |
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
Posted Date: