Question 3. Solve using excel please. QUESTION 3 Maintenance money for a new bui

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Question 3. Solve using excel please. QUESTION 3 Maintenance money for a new building has been sought. Mr. Kendall would like to make a donation to cover all future expected maintenance cost for the building. These maintenance costs are expected to be $50,000 each year for the first 5 years, $70,000 each year for years 6 - 10, and $90,000 each year after that. The building has an indefinite service life-How much should be put into a account that will pay 13% interest to pay the maintenance over its infinite life? $513,438 O $432,990 O $786,988 O $1.114.375 QUESTION 4 A Cliek Save and Submit to save and submit. Click Save All Ansuers to save all thi nd S e and Be 2 8 5 6 9 O.

Explanation / Answer

Should put in account today

=50000/(1+13%)^1+50000/(1+13%)^2+50000/(1+13%)^3+50000/(1+13%)^4+50000/(1+13%)^5+70000/(1+13%)^6+70000/(1+13%)^7+70000/(1+13%)^8+70000/(1+13%)^9+70000/(1+13%)^10+(90000/13%)/(1+13%)^10

=513438

the above is the answer

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