THE SCENARIO
It's laundry day, and you know what that means: financial analysis. Well, that's not
usually what it means, but today I'm in that kind of mood.
My building has laundry machines, and I figure that I spend about $25
more per month on laundry than I would if I owned my own washer and dryer (the coins go to pay for water and electricity, which I'd have to pay for separately if I owned my own washer and dryer).
According to a quick web search, washers and dryers should last for a minimum of 10 years after purchase.
The question: If I bought a washer and dryer and they lasted 10 years, at which point they break down and can't even be sold for scrap, and I wanted to make 8% on my money, what's the
most I could pay for them today? Assume that my laundry costs would not rise over those 10 y...
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