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(10 points) Low-energy light bulbs typically cost $3.50, have a life of 9 years, and use about $1.60 of electricity a year. Conventional light bulbs
(10 points) Low-energy light bulbs typically cost $3.50, have a life of 9 years, and use about $1.60 of electricity a year. Conventional light bulbs are cheaper to buy, for they cost only $.50. On the other hand, they last only about a year and use about $6.60 of energy. If the real discount rate is 5%, what is the relative cost of the two products
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