Arithmetic Gradient:

Ovente Inc has the following estimates for its requirement for raw materials over the next

$4$ years:

Assume that these costs are due at the end of each year. If the bank pays $6\%$ interest

annually, how much should Ovente Inc. deposit today to meet the cost of purchasing raw

materials for the next $4$ years?

$($Hint: first work out the dollar amount that the cost is increasing by every year$)$