Investment in the retrofitted pumps

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It costs $34,000 to retrofit the gasoline pumps at a certain filling station so the pumps can dispense E85 fuel(85% ethanol and 15% gasoline). If the station makes a profit of $0.07 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 $34,000 investment in the retrofitted pumps? The interest rate is 1% per month.

It will take ____months to recoup the investment.

Reference no: EM131239693

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