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Engineering, 21.02.2020 01:52 CelesteN64

Consider a homeowner who is replacing his 25-year-old natural gas furnace that has an efficiency of 55%. The homeowner is considering a conventional furnace that has an efficiency of 82% and costs $1600 and a high-efficiency furnace that has an efficiency of 95% and costs $3050. The homeowner would like to buy the high-efficiency furnace if the savings from the natural gas pay for the additional cost in less than 8 years. If the homeowner now pays $1200 a year for heating, determine if he should buy the conventional or the high efficiency model. (Round your answer to the nearest integer number of years.)

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