Maintenance cost for small bridge with an expected 50 year life are estimated to be $15,000 each year for the first 8 years, followed by a $20,000 expenditure in the year 17 and a $30,000 expenditure in the year 29. If interest rate is at 10% compounded monthly. What is the equivalent present value of the entire maintenance cost of that bridge?

Maintenance cost for small bridge with an expected 50 year life are estimated to be $15,000 each year for the first 8 years, followed by a $20,000 expenditure in the year 17 and a $30,000 expenditure in the year 29. If interest rate is at 10% compounded monthly. What is the equivalent present value of the entire maintenance cost of that bridge?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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