You’re trying to decide whether to buy an energy-efficient, 225 W refrigerator for $1150 or a standard, 425 W model for $850. The standard model will run 22% of the time, while better insulation means the energy-efficient model will run 7% of the time. If electricity costs 9.5¢/kWh, how long would you have to own the energy-efficient model to make up the difference in cost? Neglect interest you might earn on your money.
You’re trying to decide whether
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