Farmer Gene is thinking about letting an energy company put up wind turbines on his land. For a single turbine, the energy company will pay Farmer Gene $20,000 up front then an additional $2500 each MONTH to rent the farmer's land. Create an equation for the income, I, Farmer Gene will receive for a single turbine to be put on his land for M months. (Use capital letters) Equation is 20000(M)+2500 How much income would Farmer Gene get after 1 year (12 months)? Income would be $ 50000 How much income would Farmer Gene get after 15 years? Income would be $ 302500 How many months would it take for Farmer Gene to earn an income of $600, 000? It would take 348 months

Farmer Gene is thinking about letting an energy company put up wind turbines on his land. For a single turbine, the energy company will pay Farmer Gene $20,000 up front then an additional $2500 each MONTH to rent the farmer's land. Create an equation for the income, I, Farmer Gene will receive for a single turbine to be put on his land for M months. (Use capital letters) Equation is 20000(M)+2500 How much income would Farmer Gene get after 1 year (12 months)? Income would be $ 50000 How much income would Farmer Gene get after 15 years? Income would be $ 302500 How many months would it take for Farmer Gene to earn an income of $600, 000? It would take 348 months

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Farmer Gene is thinking about letting an energy company put up wind turbines on his land. For a single turbine, the energy company will pay
Farmer Gene $20,000 up front then an additional $2500 each MONTH to rent the farmer's land.
Create an equation for the income, I, Farmer Gene will receive for a single turbine to be put on his land for M months. (Use capital letters)
Equation is 20000(M)+2500
How much income would Farmer Gene get after 1 year (12 months)?
Income would be $ 50000
How much income would Farmer Gene get after 15 years?
Income would be $ 302500
How many month
would it take for Farmer Gene to earn an income of $600,000?
It would take 348
months
s folio

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