Costs for maintaining buildings at an industrial complex over a 13- year period are expected to be $5400 in year 1, increasing at the rate of 15% per year through year 13. At an interest rate of 15% per year, what present worth (at time 0) is equivalent to the series of maintenance costs?

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The Answer of Costs for maintaining buildings at an industrial complex over a 13- year period are expected to be $5400 in year 1, increasing at the rate of 15% per year through year 13. At an interest rate of 15% per year, what present worth (at time 0) is equivalent to the series of maintenance costs?

Costs for Maintaining Buildings at an Industrial Complex Over a 13-