13. 8.23 In your junior year, you have been elected president of your student engineering organization on

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13. 8.23 In your junior year, you have been elected president of your student engineering organization on campus. A computer and color printer are needed to support activities planned for the fall and spring semesters. You can lease a fully equipped system for $800 per month or purchase one for $8500 now and pay a $75 per month maintenance fee. If the nominal interest rate is 15% per year, determine the months of use necessary for the two options to break even using

(a) tabulated factors, and

(b) a single-cell spreadsheet function.

(c) Not knowing what the next president will want, you use a 9-month study period. Which option is economically better?Page 267

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