How many years would it take for the geothermal system to pay for itself?

How many years would it take for the geothermal system to pay for itself? Assume
that you are looking to install a new system, and that you can obtain a government
grant to do so. Use the costs that were mentioned on the previous page. Show all of
your calculations.
Installation Costs
• geothermal system: $20 000
• conventional system: $3500
• government grant for geothermal installation: $7000
Operating Costs
• geothermal: $100/month
• conventional: $150/month, plus $400/yr for air conditioning

however on previous page it stated: operate the hot-water tank is around $150 per month. Operating the heat pump would cost about $100 per month, but, without having to pay for air conditioner would save $400 per year.
Read more

find the cost of your paper