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The purchase price of a natural gas-fired commercial boiler (capacity X) WAS $330,000 eight years ago. Another boiler of the same basic design, except with
The purchase price of a natural gas-fired commercial boiler (capacity X) WAS $330,000 eight years ago. Another boiler of the same basic design, except with capacity 1.60X, is currently being considered for purchase. If it is purchased, some optional features presently costing $$45,000 would be added for your application. If the cost index was 115 for this type of equipment when the capacity X boiler was purchased and is 146 now, and the applicable cost capacity factor is 0.8, What is your estimate of the purchase price of the new boiler? With a 9-year loan of 12% annual interest rate compounded monthly, how much is the monthly loan payment (Please round the answer to the nearest integer)
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