Econo$-$Cool air conditioners cost $$300$ to purchase, result in electricity bills of $$150$ per year,

and last for five years.

Luxury Air models cost $$500,$ result in electricity bills of $$100$ per year, and last for eight

years.

The discount rate is $21\%.$

What is the equivalent annual cost of the Econo$-$Cool model? $($Enter an integer value$)$ $

What is the equivalent annual cost of the Luxury Air model? $($Enter an integer value$)$ $

Which model is more cost$-$effective? $($Enter Econo or Luxury$)$

If the inflation rate is $10\%$ per year, you would need to redo the same calculations above

using the real rate to compare the two options. What would be the real rate? $($Enter in xx$.$x

format$)$

$\%$

$($No need to solve the problem with the real rate.$)$