Rick Rios has an asphalt paving business. He is trying to calculate whether he should replace some of his current equipment. Rick estimates that he will spend $8,000 every 6 months over the next 4 years to maintain the current equipment. At a rate of 8% compounded semiannually, what is the total present value of the estimated maintenance payments? Use Tables 23-2A and 23-2B or a calculator.

Question

Rick Rios has an asphalt paving business. He is trying to calculate whether he should replace some of his current equipment. Rick estimates that he will spend $8,000 every 6 months over the next 4 years to maintain the current equipment. At a rate of 8% compounded semiannually, what is the total present value of the estimated maintenance payments? Use Tables 23-2A and 23-2B or a calculator.​

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The Answer of Rick Rios has an asphalt paving business. He is trying to calculate whether he should replace some of his current equipment. Rick estimates that he will spend $8,000 every 6 months over the next 4 years to maintain the current equipment. At a rate of 8% compounded semiannually, what is the total present value of the estimated maintenance payments? Use Tables 23-2A and 23-2B or a calculator.​

Rick Rios Has an Asphalt Paving Business