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Ok so a company wants to deposit extra money to cover the increased maintenance costs...

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Accounting

Ok so a company wants to deposit extra money to cover the increased maintenance costs for the next 10 years. How much is the company to deposit now if they expect the costs to increase by $4,953 per year, starting from year 2, and their MARR is 1%?

I got 46911.37 but I am not sure if I am wrong because I did not do anything with the starting from year 2. Thanks

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