A company purchases an energy efficient pump to upgrade their water treatment system. The investment of the pump is $50, 000 and its lifetime is 20 years. The maintenance cost is $500 annually and paid at the end of each year. How much is the future cost at the end of the lifetime of the pump if the interest rate is 4%?

\begin{tabular}{|c|c|} \hline Conversion & Formula \\ \hline Present Value to future Value & FV=PVx(1+i)n \\ \hline Future Value to Present Value & PV=(1+i)nFV \\ \hline Present Value to Annual Value & A=PV((1+i)n1i(1+i)n) \\ \hline Annual Value to Present Value & PV=A(i1(1+i)n) \\ \hline Future Value to Annual Value & A=FV((1+i+i)n1) \\ \hline Annual Value to Future Value & FV=A(i(1+i)n1) \\ \hline \end{tabular}