The cost of supplies for a 10-year project increases by P900 every year, starting at the end of the second year. There is no supplies cost at the end of the first year. If the interest rate is 6.7%...

The cost of supplies for a 10-year project increases by P900 every year, starting at the end of the second year. There is no supplies cost at the end of the first year. If the interest rate is 6.7% per year, determine the present amount that must be set aside at time zero to take care of all the future supplies expenditures.