Light emitting diodes (LED) light bulbs have become required in recent years, but do they make financial sense? Suppose a typical 60 - watt incandescent light bulb costs S .41 and lasts 1, 000 hours. A 15 - watt LED, which provides the same light, costs $3.20 and lasts for 12, 000 hours. A kilowatt - hour of electricity costs $.117. A kilowatt-hour is 1,000 watts for 1 hour. If you require a return of 9 percent and use a light fixture 500 hours per year, what is the equivalent annual cost of each light bulb? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e. g., 32.16.)

Light emitting diodes (LED) light bulbs have become required in recent years, but do they make financial sense? Suppose a typical 60 - watt incandescent light bulb costs S .41 and lasts 1, 000 hours. A 15 - watt LED, which provides the same light, costs $3.20 and lasts for 12, 000 hours. A kilowatt - hour of electricity costs $.117. A kilowatt-hour is 1,000 watts for 1 hour. If you require a return of 9 percent and use a light fixture 500 hours per year, what is the equivalent annual cost of each light bulb? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e. g., 32.16.)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.6P

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