How many months will it take for the owner to recoup her

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Reference no: EM131042638

It costs $30,000 to retrofit the gasolinepumps at a certain filling station so the pumps can dispense E85 fuel (85% ethanol and 15% gasoline). If the station makes a profit of $0.08 per gallon from selling E85 and sells an average of 20,000 gallons of E85 per month, how many months will it take for the owner to recoup her $30,000 investment in the retrofitted pumps?

The interest rate is 1% per month

Reference no: EM131042638

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