To obtain a 12 rate of return what is the minimum number of, Financial Management

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To obtain a 12 rate of return what is the minimum number of

Ithaca is considering a new $50,000 snowplow that a will save the city $600 per day of use compared to the existing one. It should last 10 years and have a resale value of $2000. To obtain a 12% rate of return what is the minimum number of days per year on average it will have to be used.

Contributed by D. P. Loucks, Cornell University.

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Financial Management: To obtain a 12 rate of return what is the minimum number of

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Financial Management: To obtain a 12 rate of return what is the minimum number of

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