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A homeowner in a sunny climate has the opportunity to install a solar hot water heater in his home for a cost of $4,000. After

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A homeowner in a sunny climate has the opportunity to install a solar hot water heater in his home for a cost of $4,000. After installation, the solar water heater will produce a small amount of hot water every day, forever, and will require no maintenance. This reduces his heating bill, which is paid annually. Assume an interest rate of 10% per year, with savings expected to be constant every year. How much must the homeowner save on water heating costs every year for this to be a sound investment? s(Round to the nearest dollar.)

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