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4. Income from the mining of mineral deposits usually decreases as the resource becomes more difficult...

4. Income from the mining of mineral deposits usually decreases as the resource becomes more difficult to extract. Determine the future worth in year 12 of a mineral lease that yielded income of $15,000 in years 1 through 5 and then amounts that decreased by 7% per year through year 12. Use an interest rate of 10% per year. (show the cash flow diagram for full credit)

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Future worth is $288,991.26

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jeff jeffy answered 1 year ago
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