The surface area of a certain plant that requires painting is 8,300 sq. ft. Two kinds of paint are available whose brands are A and B. Paint A costs Php 1.50 per sq.ft. but needs renewal at the end of every 4 years while paint B costs PHP 1.90 per sq.ft. If money is worth 12% effective, how often should paint B be renewed so that it will be economical as paint A? a.6.465 years b.7.465 years c.5.465 years d.8.465 years
The surface area of a certain plant that requires painting is 8,300 sq. ft. Two kinds of paint are available whose brands are A and B. Paint A costs Php 1.50 per sq.ft. but needs renewal at the end of every 4 years while paint B costs PHP 1.90 per sq.ft. If money is worth 12% effective, how often should paint B be renewed so that it will be economical as paint A? a.6.465 years b.7.465 years c.5.465 years d.8.465 years
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The surface area of a certain plant that requires painting is 8,300 sq. ft. Two kinds of paint are available whose brands are A and B. Paint A costs Php 1.50 per sq.ft. but needs renewal at the end of every 4 years while paint B costs PHP 1.90 per sq.ft. If money is worth 12% effective, how often should paint B be renewed so that it will be economical as paint A?
a.6.465 years
b.7.465 years
c.5.465 years
d.8.465 years
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