Problem
A new generator has just been installed. It is expected that there will be no maintenance charges until the end of the 6th year, when $300 will be spent at the end of each successive year until the generator is scrapped at the end of its 14th year of service. What sum of money set aside at the time of installation of the generator at 6% will take care of all maintenance expenses for the generator?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.