Question

Mr. Tank has an old gas water heater that cost him $685/year to operate. He purchased a new one for $1875 that will save him 33.87% annually and energy cost to run in how many years will the new water heater pay for itself? Round to the nearest whole year

Answer 1

Answer:8 years

Step-by-step explanation:

Given

Old water heater cost $\ 685$ per year

New Heater cost $\ 1875$ and save 33.87%

So New heater cost Annually $=685\times (1-.3387)$

New heater cost$=\ 452.99$

Saving per year $=\ 232$

So it will pay for itself after $=\frac{1875}{232}=8.018\approx 8\ years$