A local golf course just bought a lawn mowing machine it, Ask an Expert

Economics

A local golf course just bought a lawn mowing machine. It comes with 2 yr free maintenance. The manager wants to provide enough money in an 8.00% bank account now (EOY -0) to have a fund out of which he will pay for needed maintenance. At the end of the 1st year after warrantee (EOY 3)he will have to pay $80.49 after which the cost is expected to increase $30.09 each year for 4 yrs(cumulative). How many dollars must be deposited now?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91275924

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