$13\mathrm{.}40$ A multinational engineering consulting firm that wants to provide resort accommodations to special clients is considering the purchase of a three$-$bedroom lodge in upper Montana that will cost $$250,000.$ The property in that area is rapidly appreciating in value because people anxious to get away from urban developments are bidding up the prices. If the company spends an average of $$500$ per month for utilities and the investment increases at a rate of $0\mathrm{.}75\%$ per month, how long would it be before the company could sell the property for $$100,000$ more than it has invested in it$?$

Replacement Analysis

For the given financial data on a certain asset, find the Economic Service Life of the asset at $12\%$ interest rate

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