The Lisbon’s new heat pump cost $4,500.
2 answers:
Answer:
4.1 years.
Step-by-step explanation:
We have been given that The Lisbon’s new heat pump cost $4,500. They bought it to replace their old furnace and air conditioner which cost about $2,800 a year to run. The heat pump will save them approximately 39% a year.
Yearly cost was 2800 at first and the pump will save 39% of 2800. So annual saving with new heat pump will be:
Let x be the number of years in which heat pump will pay for itself, so saving in x years will be:
Now let us equate the savings by new heat pump with cost of heat pump to find the number of years (x).
Therefore, the heat pump will pay for itself in 4.1 years.
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