Respuesta :
2.97 x (10 years- 52 weeks in a year= 520) = 1544.40
P= PV x i / 1- (1+i)^-n
PV= 2879
I= .1389/12
N= 84 (7 years x 12)
=53.78 x 84 = 4517.52
4517.52 - 2879 = 1638.52
1638.52 - 1544.40 = 94.12
P= PV x i / 1- (1+i)^-n
PV= 2879
I= .1389/12
N= 84 (7 years x 12)
=53.78 x 84 = 4517.52
4517.52 - 2879 = 1638.52
1638.52 - 1544.40 = 94.12
The lifetime cost of the oven shows that A. The interest cost $94.12 more than the electricity.
How to calculate the cost?
From the given information, over ten years that she kept the oven, it used an average of $2.97 per week in electricity. This will be calculated as:
= 2.97 × (10 × 52)
= 2.97 × 520
= $1544.30
Then, using the interest, the computed value will be:
= [(53.78 × (12 × 7)] - 2879
= (53.78 × 84) - 2879
= 1638.52 - 1544.40
= $94.12
Therefore, the interest cost $94.12 more than the electricity.
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