Question

A professional photographer who specializes in wedding-related activities paid $47,500 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 $250 per day for his services, how many days per year must he be employed in order to break even at an interest rate of 9% per year? The number of days required for break even is determined to be______ per year.

Answer 1

The number of days required for break even is determined to be 64 per year.

or use 65 as round off

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