A professional photographer who specializes in wedding-related activities paid $45,000 for equipment that will have a $2000 salvage value after 5 years. He estimates that his costs associated with each event amount to $65 per day. If he charges $450 per day for hes services, how many days per year must he be employed in order to break even at an interest rate of 10% per year? The number of days required for break even is determined to be per year.

A professional photographer who specializes in wedding-related activities paid $45,000 for equipment that will have a $2000 salvage value after 5 years. He estimates that his costs associated with each event amount to $65 per day. If he charges $450 per day for hes services, how many days per year must he be employed in order to break even at an interest rate of 10% per year? The number of days required for break even is determined to be per year.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 30P

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