Initial cost = £725Saving = £50 each weekCalculate the payback time.Payback time = _____ weeks
Question
Initial cost = £725Saving = £50 each weekCalculate the payback time.Payback time = _____ weeks
Solution
To calculate the payback time, you need to divide the initial cost by the amount saved each week.
Step 1: Identify the initial cost. In this case, the initial cost is £725.
Step 2: Identify the weekly savings. In this case, you save £50 each week.
Step 3: Divide the initial cost by the weekly savings. This will give you the payback time in weeks.
So, £725 (initial cost) ÷ £50 (weekly savings) = 14.5 weeks.
Therefore, the payback time is 14.5 weeks.
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