How many months must a purchaser use the system

Reference no: EM131004348

Magenn Power in Ottawa, Ontario, sells a rotating, bus-sized helium-filled electricity generator that floats 122 m above the ground. It sells for $10,000 (with helium) and will produce 4 kilowatts of electricity at its ground station. If the cost of electricity is $0.08 per kilowatt-hour, how many months must a purchaser use the system at full capacity to recover the initial investment at an interest rate of 12% per year compounded monthly? Assume 30 days per month.

Reference no: EM131004348

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