Sales of bottled water in USA totaled 16.3 gallons per person in 2004. Evian Natural

Spring Water costs 50 per bottle. A municipal water utility provides tap water for

$2.50 per 1000 gallons. If the average person drinks 2 bottles of water per day or uses

5 gallons per day in getting that amount of water from the tap, what are the present

worth values of drinking water or tap water per person for 1 year? Use an interest

rate of 8% per year, compounded monthly, and 30 days per month.