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Mike buys a lawn mower that comes with the first two years

Mike buys a lawn mower that comes with the first two years of maintenance for free. The cost for the third year is $100 dollars and increases by $50 each year. If he wanted to deposit the costs for the first six years into a savings account which earns an interest of 8% each year, how much should he deposit today?

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Business Economics: Mike buys a lawn mower that comes with the first two years

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