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please help me with this problem with steps Liam wants to buy a fleet of machinery for use in various projects from an equipment vendor
please help me with this problem with steps Liam wants to buy a fleet of machinery for use in various projects from an equipment vendor in Chicago. Liam intends on using the fleet for a period of 12 years. The vendor provides a 6-year warranty policy that fully covers repairs. Liam has predicted the cumulative operation cost of the equipment to be $9,000 a year and the annual repair cost to be $4,000. Question 1 How much money should Liam put aside today to cover all operations and repairs? Assume an annual compound interest rate of 9%. Hint: Note that some of the future repairs are covered by the vendor through a manufacturing warranty that comes with the equipment. (Round your answer to six decimal places.) number (rtol=0.01, atol=14-08)
please help me with this problem with steps
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