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Question 11. The maintenance for an automobile is estimated to be $150 in the first year and is expected to increase at a uniform rate

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Question 11. The maintenance for an automobile is estimated to be $150 in the first year and is expected to increase at a uniform rate of 10 percent per year. What is the present worth of the cost of the first five years of maintenance if an 8 percent annual interest rate is assumed? Write all step-by-step solutions. If you provide just correct final answers, you will get only 10 percent credit of this question. (3 Points)

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