SOLUTION: A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2400. After installation the solar water heater will produce a small a

Question 1038542: A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2400. After installation the solar water heater will produce a small amount of hot water every day, forever, and will require no maintenance. How much must the homeowner save on water heating costs every year if this is to be a sound investment? (The interest rate is 9% per year.)
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
2400x9%=2400x.09=216
If the homeowner spends more than $216 a year on hot water, then this is a good investment!!!!!!!!!!!!!
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