Eliminate the current manual control operation

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1. An automatic process controller will eliminate the current manual control operation. Annual cost of the current method is $7,000. If the controller has a service life of 15 years and an expected market value of 8% of the first cost, what is the maximum economical price (in dollars) for the controller? Ignore interest.

2. Your monthly mortgage payment (principal plus interest) is $1, 100. If you have a 12-year with a fixed interest rate 0.75% per month, how much did you borrow from the bank to purchase you house (rounded to the nearest whole dollar)?

Reference no: EM131579447

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