contractor estimates that it would take $15,036 to make a home 50% more energy-efficient than a code-built hou we annual heating costs of $1711, while the more energy-efficient house would have annual heating costs of $72 pay of the cost of the upgrades? will take years for the annual savings to pay of the cost of the upgrades.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Set up the equation and solve.
A contractor estimates that it would take $15,036 to make a home 50% more energy-efficient than a code-built house. She projects that the code-built house wc
have annual heating costs of $1711, while the more energy-efficient house would have annual heating costs of $723. How long would it take for the annual savi
to pay off the cost of the upgrades?
It will take years for the annual savings to pay off the cost of the upgrades.
(Simplify your answer. Round up to the nearest year.)
Transcribed Image Text:Set up the equation and solve. A contractor estimates that it would take $15,036 to make a home 50% more energy-efficient than a code-built house. She projects that the code-built house wc have annual heating costs of $1711, while the more energy-efficient house would have annual heating costs of $723. How long would it take for the annual savi to pay off the cost of the upgrades? It will take years for the annual savings to pay off the cost of the upgrades. (Simplify your answer. Round up to the nearest year.)
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