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The owner of a hair styling salon is considering buying a tanning bed. She estimates that a tanning bed will bring in an extra $1,000
The owner of a hair styling salon is considering buying a tanning bed. She estimates that a tanning bed will bring in an extra $1,000 per year in profit (after deducting costs for electricity, replacement bulbs, etc.). A good quality tanning bed will last for 6 years; however, it will not have any resale value. The owner has not priced tanning beds. Calculate the maximum price that the owner should pay for a tanning bed if she wants to get a 10% return on any money invested in the salon. Which table will you use for the above calculation? Number of periods? Interest Rate? Factor? What is the maximum price
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