Question

Bob installed the solar panel. It cost him $1,512 to purchase the panel and $263 to have it installed. If he saves an average of $50 a month,approximately how long before the panel has paid for itself?

Answer 1

Answer:

1809

Step-by-step explanation:

Answer 2

Answer: the panel will pay for itself in approximately 36 months

Step-by-step explanation:

Let x represent the number of months before the panel pays for itself.

It cost him $1,512 to purchase the panel and $263 to have it installed. This means that the total cost of purchasing and installing the solar panel would be

1512 + 263 = $1775

If he saves an average of $50 a month, it means that in x months, he would save 50x

At the point where the total amount saved equals the total cost of purchasing and installing the panel, then

50x = 1775

x = 1775/50

x = 35.5

Approximately 36 months