Basics of Engineering Economy 2nd Edition by Anthony Tarquin,Leland Blank

Exercise 2

A professional photographer who specializes in wedding-related activities paid $16,000 for equipment that has a $2000 estimated salvage value after five years. He estimates that his costs associ­ated with each event amount to $65 per day. If he charges $300 per day for his services, how many days per year must he be employed in order to break even at an interest rate of 8% per year