How much will recorders have to cost

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Arctic and Antarctic regions are harsh environments in which to take data. A TempXZ 3000 portable temperature recorder can take and store 32,767 measurements at -40°C to 150°C. A research team from the University of Nova Scotia needs 20 of the recorders, and they are trying to decide whether they should buy them now at $649 each or purchase them 2 years from now, which is when they will be deployed. At an interest rate of 8% per year, how much will the 20 recorders have to cost in 2 years to render their decision indifferent?

Reference no: EM131004247

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