Question: Engineering controls for keeping a safe work enviroment and prevent injuries will cost $33,000 dollars. This is compared to a continuing hearing conservation program to

Engineering controls for keeping a safe work enviroment and prevent injuries will cost $33,000 dollars. This is compared to a continuing hearing conservation program to include annual audiograms, or hearing tests, annual training, and providing noise protection for the welding department which is estimated to cost $9,000 per year. This amount would be saved each year if the engineering controls are installed.

If the company takes out a loan for $33,000 at 5% interest, what will the payback period be for the loan?

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