3600 dollars is placed in an account with an annual interest rate of 5.5%. To the nearest year, how long will it take for the ac
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Answer:
No.
Step-by-step explanation:
The equipment wll save $35,000 per over for 10 years, which totals to $350,000.
If the equipment is bought on a simple interest rate of 12% annually for ten years, it will cost:
We will need to pay $440,000 in total for the machine in over ten years.
If we compare both values, it can be deduced that industrial equipment is more expensive than labor cost.