Compact fluorescent lamps (CFLs) have become required in recent years, but do they make financial sense? Suppose a typical 60-watt incandescent light bulb costs $.48 and lasts 1,000 hours. A 15-watt CFL, which provides the same light, costs $3.55 and lasts for 12,000 hours. A kilowatt-hour of electricity costs $.124, which is about the national average. A kilowatt-hour is 1,000 watts for 1 hour. If you require a return of 10 percent and use a light fixture 500 hours per year, what is the equivalent annual cost of each light bulb?

Compact fluorescent lamps (CFL have become required in recent years, but do they make financial s) sense? Suppose a typical 60-watt incandescent light bulb costs $.48 and lasts 1,000 hours. A 15watt FL, which provides the same light, costs $3.55 and lasts for 12,000 hours. A kilowatt-hour of electricity costs $.124, which is about the national average. A kilowatt-hour is 1,000 watts for 1 hour. If you require a return of 10 percent and use a light fixture 500 hours per year, what is the equivalent annual cost of each light bulb? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Equivalent annual cost 60-watt incandescent light bulb Compact fluorescent lamps