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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | Apr 2017 |
| Last Sign in: | 363 Weeks Ago, 6 Days Ago |
| Questions Answered: | 352 |
| Tutorials Posted: | 351 |
MBA,PHD in Psychology
Northwest Florida State College
Jun-1992 - May-1997
Professor
Northwest Florida State College,
Aug-2006 - Nov-2015
Anita Tahani, who owns a travel agency, bought an old house to use as her business office. She found that the ceiling was poorly insulated and that the heat loss could be cut significantly if 6 inches of foam insulation were installed. She estimated that with the insulation, she could cut the heating bill by $40 per month and the air-conditioning cost by $25 per month. Assuming that the summer season is three months (June, July, and August) of the year and that the winter season is another three months (December, January, and February) of the year, how much can Anita spend on insulation if she expects to keep the property for five years? Assume that neither heating nor air-conditioning would be required during the fall and spring seasons. If she decides to install the insulation, it will be done at the beginning of May. Anita’s interest rate is 9% compounded monthly.
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