Each year you need to power wash your deck. You can rent a power washer for $40 per day. If you go with this option, you will pay $40 each year starting today up to and including year 10 If you buy the power washer, you will pay $100 today and the power washer will last up to and including year 10 . If your investments earn 5% compounded annually, how much does it save you in present value terms to own the power washer?