If someone could please help with this it would be great thanks.
The water fountains in Learned Hall are costing $1200 a year to maintain. How much money can you justify spending NOW for new fountains and plumbing (materials and labor combined) if no maintenance will be needed for the first 3 years, $200 a year for the following 5 years, then $800 a year thereafter? Assume the useful life of a water fountain is 12 years; and money costs 5% compounded daily.