A contractor is saving money for a lucrative project. The initial cost is $175,000, annual outlays for maintenance is $1,500 and $4,000 every 3 years. There will be an additional one- time cost of...

Extracted text: A contractor is saving money for a lucrative project. The initial cost is $175,000, annual outlays for maintenance is $1,500 and $4,000 every 3 years. There will be an additional one- time cost of $15,000 in 2 years for miscellaneous fixtures. At an interest rate of 8% per annum, how much money must he save now (in $) for the project?