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12) A homeowner spends $ 3,000 to insulate his home. His energy bills will drop by an average of $ 70 each month. What is

12) A homeowner spends $ 3,000 to insulate his home. His energy bills will drop by an average of $ 70 each month. What is the payback time of this investment? Round, if necessary, to the nearest 0.1 year.

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