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A machine with an initial purchase price of $29100 has a useful life of 10 years. The usage of this machine is forecasted to bring
A machine with an initial purchase price of $29100 has a useful life of 10 years. The usage of this machine is forecasted to bring us the savings in the table below. At an interest rate of 0% how many years will it take to payback the investment?
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
Savings, $ | 7000 | 9000 | 5000 | 3000 | 4000 | 6000 | 5000 | 6000 | 4000 | 7000 |
1-2 years | ||
2-3 years | ||
3-4 years | ||
4-5 years | ||
5-6 years | ||
6-7 years | ||
7-8 years | ||
8-9 years | ||
More than 8 years |
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