Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A contractor recommends replacing your older but still perfectly functional furnace with a new high-efficiency furnace. You look up the specs of the old furnace

 A contractor recommends replacing your older but still perfectly functional furnace with a new high-efficiency furnace. You look up the specs of the old furnace and find that it is rated to be 80% efficient at converting the chemical energy of natural gas into the heat delivered to the interior of your home. In contrast, the new furnace the contractor offers is 95% efficient. With the old furnace, you typically spent $1000 per year on natural gas to heat your home and the contractor offers to install the furnace for $4000. In how many years would your investment in a high- efficiency furnace pay off? In other words, in how many years will you break even? Assume that the price of natural gas is $0.01 per cubic foot and the heat of combustion is 1000 BTU per cubic foot.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Heres how to calculate the payback period for the new highefficiency furnace 1 Calculate the annual gas usage with the old furnace We know the annual ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Chemical Principles

Authors: Steven S. Zumdahl, Donald J. DeCoste

7th edition

9781133109235, 1111580650, 978-1111580650

More Books

Students also viewed these Economics questions

Question

Verify the formula given for the Pi of the M/M/k.

Answered: 1 week ago

Question

Why must all six atoms in C2H4 be in the same plane?

Answered: 1 week ago