Question

Suppose that you currently own a clothes dryer that costs $25 per month to operate A new efficient dryer costs $590 and has estimated operating cost of $15 per month. How long will it take for the new dryer to pay for itself? The clothes dryer will pay for itself in _months.

Answer 1

After 59 months the new dryer will pay for itself.

Explanation:

Let the new clothes dryer takes 'x' months to pay for itself.

Then the operating cost of the new dryer will be = 15x

Since cost of the new dryer = $590

So, total cost of the dryer in x months = $(590 + 15x)

Now we know old dryer's operating cost is = $25 per month

So, operating cost for x months = 25x

By the time when new dryer's total cost becomes equal to the old dryer's operational cost, the new dryer will pay for itself.

Now we can get the value of x by equating the old dryer's operational cost and the new dryer's total cost.

25x = 590 + 15x

25x - 15x = 590

10x = 590

x =
`(590)/(10)`

x = '59 months'