Question

Natural gas is often priced in units of dollars per therm. One therm equals 100,000 BTUs . A certain family uses 600 therms of energy to heat its home annually using a natural gas furnace that is 80 percent efficient. The family is considering replacing its current furnace with one that is 96 percent efficient. Assuming the cost of a therm is $0.30.

Required:
What would be the family's annual savings in the cost of home heating?

Answer 1

Answer:

-$28.8.

Explanation:

Note, we were told,

• to assume the cost of a therm is $0.30
• the family uses 600 therms of energy annually.

Savings on old furnace:

• 600 * $0.30 * 0.80 (or written as 80%) = $144

Savings on new furnace:

• 600 * $0.30 * 0.96 (or written as 96%) = $172.8

Difference: $144 - $172.8 = -$28.8.

Answer 2

The family's annual savings in the cost of home heating will be (-$28.8).

Here, we are assuming the cost of a therm is $0.30 and that the family uses 600 therms of energy annually.

The savings on the old furnace equals:

= 600 * $0.30 * 0.80

= $144

Hence, the savings on old furnace: is $144.

The savings on new furnace equals:

= 600 * $0.30 * 0.96

= $172.8

Hence, the savings on old furnace is $172.8.

In conclusion, the family's annual savings in the cost of home heating will be (-$28.8).

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