21
QuizMultiple Choice

Home Ownership

Question 21 • Financial Math - MA2007

Bryce has heard that gas appliances are cheaper to use and can lower utility costs. He is interested in purchasing a new gas stove for his kitchen to replace his electric stove. Assuming that the stove gets used one hour per day, use the following chart to determine how much Bryce will save each year in utility costs by purchasing the gas appliance.Electric Stove13 cents per hourGas Stove5 cents per hour

Answer
A
$29.75
B
$18.25
C
$29.20
D
$47.45

Explanation

The electric stove costs 13 cents per hour, while the gas stove costs 5 cents, so Bryce saves 8 cents for each hour of use. At one hour per day for 365 days, that is 8 × 365 = 2,920 cents, or $29.20 per year. Choice C is $29.20.

AI-written and checked against the verified answer.

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