A homeowner may upgrade a furnace that runs on fuel oil to a natural gas unit. The
Question:
A homeowner may upgrade a furnace that runs on fuel oil to a natural gas unit. The investment win be $2500 installed. The cost of the natural gas will average $60 per month over the year, instead of the $145 per month that the fuel oil costs. If the interest rate is 9% per year, how long will it take to recover the initial investment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
There are several ways to solve this but one of the ea...View the full answer
Answered By
Saud Ur Rehman
Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Purchases 98,600 Stock Beginning 12,400 Stock ending 18,200 Expenses 11,700 Gross Profit margin 20% Calculate Sales, Gross profit, Net profit and net profit margin (8 Marks). 2.2 Sales 268,650...
-
How long will it take to recover the investment presented at 10% interest rate under the independent scenarios mentioned below? (14 points) Investment $10,595 Scenario 1 - with a gradient of Scenario...
-
How long will it take you to save an adequate amount for retirement if you deposit $2,500 per quarter year into an account beginning today thats pays an effective annual rate (EAR) of 4 percent if...
-
Suppose that there are two countries, A and B, and two goods, X and Y. Country A has a production possibility frontier (PPF) that is given by the equation X + Y = 100, while country B has a PPF that...
-
Health System Q is located in the same geographic area as Health System P, its main competitor. While Health System Q touts its status as a community-based integrated delivery system, Health System P...
-
A heat exchanger performs as shown below in the Figure A for safety reasons. An engineer suggests that it would be wise to double the heat transfer area so as to double the heat transfer rate. The...
-
You are to open the books of K Mullings, a trader, via the journal to record the assets and liabilities, and are then to record the daily transactions for the month of May. A trial balance is to be...
-
Orwell Company accumulates the following adjustment data at December 31. 1. Services provided but not recorded total $1,420. 2. Supplies of $300 have been used. 3. Utility expenses of $225 are...
-
Wima has just won a lottery. She will receive a payment of $5,990 at the end of each year for 11 years. As an alternative, she can choose an immediate payment of $60,314. Which alternative should she...
-
Diego is a single individual who owns a life insurance policy worth $1.5 million that will be worth $8 million upon his death. This year Diego transferred the policy and all incidents of ownership to...
-
A 30-year mortgage for $120,000 has been issued. The interest rate is 10% and payments are made monthly. Print out the balance due, principal payment and interest payment for each period.
-
Develop a general-purpose spreadsheet to calculate A out the balance due, principal payment, ~d interest payment for each period of a loan. The user inputs to the spreadsheet will be the loan amount,...
-
Read Eye on the Market For Used Cars and then describe the used-car market in the United States. How many used cars get traded per year and at what average price? How does the market enable buyers to...
-
If sales for the 1st year are $10000, 2nd year are $15000 and 3rd year are $7000. The depreciation is $5000 each year. Fixed cost are $2000 every year and variable cost 10% of sales. If the tax rate...
-
Last year you bought some Alpha stock for $26.75 a share. It is currently selling for $32.50. You received a dividend of $2.25 during the year. What is your total rate of return?
-
3. Determine the temperature at the insulated corner of the square cross section T=100 C T=0
-
Consider a straight piece of copper wire of length 6.5 m and diameter 4 mm that carries a current I = 7.5 A. There is a magnetic field of magnitude B directed perpendicular to the wire, and the...
-
If the quoted dividend yield in the paper was 2.2% and the dividend was listed as $0.72 what price is used in the calculation of dividend yield?
-
The following information comes from the accounting records for Santa Cruz, Inc., for March: Required Compute, for the month of March: a. Total prime costs. b. Total conversion costs. c. Total...
-
Refer to the table to answer the following questions. Year Nominal GDP (in billions) Total Federal Spending (in billions) Real GDP (in billions) Real Federal Spending (in billions) 2000 9,817 578...
-
William realizes that there is no point in paying fees to mutual fund managers for them to choose which stock or securities to buy for him. However, after carefully reviewing his decision, he decides...
-
Calculate the real interest rate per month if the nominal inflation-adjusted interest rate per year, compounded monthly, is 18% and the inflation rate per month is 0.5%.
-
A southwestern city has a contract with Firestone Vehicle Fleet Maintenance to provide maintenance services on its fleet of city-owned vehicles such as street sweepers, garbage trucks, backhoes, and...
-
If the inflation rate is 7% per year, how many years will it take for the cost of something to double when prices increase at exactly the same rate as inflation?
-
6. (5 pts) Is the following Operational Diagram, OV-5 is also called a. Context Diagram b. Logical Architecture Diagram c. Activity Model; IDEFO Context Diagram d. Capability Diagram or
-
Question 29 The process of developing management strategies to engage stakeholders throughout the project is called: OIdentify stakeholders Plan stakeholder management Manage stakeholder engagement...
-
A data plan: Question 5 options: a) creates the infrastructure needed to implement new HIS. b) establishes principles and policies by which data will be managed and stewarded by the organization as...
Study smarter with the SolutionInn App