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You go to the car dealer to have some service done on your car. Unfortunately, they find a lot of problems with the car. Today

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You go to the car dealer to have some service done on your car. Unfortunately, they find a lot of problems with the car. Today you will have to pay $2,000 to get the car fixed. Based on your estimate you will also have to pay $3,000 per year for 6 years to keep the car on the road starting exactly three year from today. The discount rate is 4.2% per year. How much are the total repair costs in today's dollars? a $14,390.36 b. $15,953.29 C. $16,390.36 d. $16,450.28 e. None of above

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