I have a very tough problem that I am having a hard time setting up for a break even problem. I am doing a break even analysis on having a solar panel system vs not using solar.
Solar Panel System:
I have a loan that I will be paying $105,281.03 total over 20 years
after that I will be receiving $590 each year after the 20 years
The other situation is that I pay $1,347 every year
so how long until I break even?
Here is what I am up against so far:
$105,281.03 - $590x(after 20 years) = $1,347x
I am trying to set this problem up correctly but I do not understand how I can account for the after 20 years deposits for the loan side. Any help would be appreciated.