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The road to Yosemite was repaved after the recent flooding. The repaving cost $1.5 million dollars.   ...

The road to Yosemite was repaved after the recent flooding. The repaving cost $1.5 million dollars.    Major maintenance will happen after the repaving every 5 years and will cost $500,000 dollars each time. Minor maintenance happens every year after the repaving and cost 25,000 per year.   What is the capitalized cost of the road repaving and both major and minor maintenance at an interest rate of 9 percent per year compounded monthly? (show steps and calculations)

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