A road can be paved with either asphalt or con-crete.
Chapter , Problem 9-57(choose chapter or problem)
A road can be paved with either asphalt or con-crete. Concrete costs $15,000/km and lasts 20 years.Assume the annual maintenance costs are $500 forconcrete and $800 for asphalt per kilometer per year.Use an interest rate of 8% per year.Contributed by D. P. Loucks, Cornell University(a)What is the maximum that should be spent forasphalt if it lasts only 10 years?(b)Assume the asphalt road costs $7000 per kilo-meter. How long must it last to be the preferredalternative?
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