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5- An equipment requires maintenance every year, at the end of each year, for 8 years. The 1st year maintenance cost is $1200.00, and every
5- An equipment requires maintenance every year, at the end of each year, for 8 years. The 1st year maintenance cost is $1200.00, and every year it increases by $100.00. If the interest rate is 8%, what is the present worth of all the maintenance costs? a) $6896.40 b) $8677.00 c) $1780.60 d) $9600.00
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