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JEA wishes to establish a fund to cover the maintenance of a Amman- Irbid highway for its lifetime of 11 years. The maintenance charges are

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JEA wishes to establish a fund to cover the maintenance of a Amman- Irbid highway for its lifetime of 11 years. The maintenance charges are paid at the end of each year of service and are estimated to be $1200 the first year and increase by $150 in each subsequent year. How much money must be invested at the beginning of the first year to pay for the maintenance costs if the interest rate is 7% per year? draw cash flow

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