Question One owns
a
Michael is a college student who is
majoring in Banking and Finance. He
high-mileage 2018
Volkswagen Golf that has a current
market value of Kshs 2.5M. The
current replacement value of his
clothes, television, stereo, cell phone,
and other personal property in a
rented apartment totals Ksh 1M. He
disposable contact lenses,
which cost Ksh 200,000 for a six-
month supply. He also has a waterbed
in his rented apartment that has
leaked in the past. An avid runner,
Michael runs 10 km daily in a nearby
public park that has the reputation of
uses
development
7:00 PM
1/3​

Jenny​ walters, who owns a real estate​ agency, bought an old house to use as her business office. she found that the ceiling was poorly insulated and that the heat loss could be cut significantly if six inches of foam insulation were installed. she estimated that with the​ insulation, she could cut the heating bill by​ $80 per month and the​ air-conditioning cost by​ $70 per month. assuming that the summer season is three months​ (june, july, and​ august) of the year and that the winter season is another three months​ (december, january, and​ february) of the​ year, how much can jenny spend on insulation if she expects to keep the property for five​ years? assume that neither heating nor​ air-conditioning would be required during the fall and spring seasons. if she decides to install the​ insulation, it will be done at the beginning of may.​ jenny's interest rate is​ 6% compounded monthly.