Afford to spend for a geothermal heat pump

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Reference no: EM13853227

A geothermal heat pum can save up to 84% of the annual heating and cooling bills of a certain home in the norotheaster US. In this region, the yearly cost of conventionally heating and cooling a 2,000 square foot house is about $2,900. With a federal tax credit of 30% on the toal install of the system, how much can a homeowner afford to spend for a geothermal heat pump if the interest rate is 10% per year? The expected life of the heat pump is 15 years.

P/A value is 7.6061

The maximum amount a homeowner can afford to spend for a geothermal heat pump is $?

Reference no: EM13853227

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