The annual cost of operating the well is $17.5
Data obtained from the question
- Cost per 1000 ft³ = $2.50
- Cost for 7000 ft³ =?
How to determine the cost of running 7000 ft³ annually.
Using the above conversion scale, we can simply obtain the cost of running 7000 ft³ annually as illustrated below:
Cost per 1000 ft³ = $2.50
Therefore,
Cost for 7000 ft³ = (7000 × 2.5) / 1000
Cost for 7000 ft³ = $17.5
Thus, $17.5 is needed to operate the well annually.
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