Question

When the survey results come back employees indicated that the lighting in the building was too low. They are 50 lights in the building. It will cost $50 to replace the light. The new lights are LED lights that are brighter and more efficient and last 10 years. It can save the company $350 per year in energy cost, plus make a brighter more productive work space making employees happier. How many years will it take for the new lights to pay for themselves? (round to the nearest year)

Answer 1

Answer: 7 years

Explanation:

There are 50 lights and it will cost $50 to replace each light.

Total replacement cost is therefore;

= $2,500

The company gets to save $350 per year if they use LED bulbs.

= 2,500/350

= 7.14 years

= 7 years