Sami just purchased a new sports car and wants to set aside cash for future maintenance

expenses. The car has a bumper-to-bumper warranty for the first five years. Sami

estimates that he will need approximately $2,000 per year in maintenance expenses for

years 6-10, at which time he will sell the vehicle. How much money should he deposit

into an account today, at 8% per year, so that he will have sufficient funds in that

account to cover his projected maintenance expenses?.

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