A piece of construction equipment will cost $6,000 new and will have an expected life of 6 years, with no salvage value at the end of its life. The disbursements for taxes, insurance, maintenance,fuels,and lubricants are estimated to be $1,500 the first year,$1,700 the second, $1,900 the third,and to continue to increase by $200 each year thereafter. What is the equivalent uniform annual cost of this piece of equipment if the rate of interest is 12%?
On the day a baby boy was born,his father decided to establish a fund for his college education by depositing a certain amount in a fund on each of his birthdays from the first through the 18th,so that the son can withdraw $2,000 on his 18th,19th,20th,and 21st birthdays. If the fund earns 4% per year,how much must the annual deposit be?