Professor X* has developed a process for extracting a precious metal from scrap. The process can...

Professor X* has developed a process for extracting a precious metal from scrap. The process can be assumed to be 93.2 % efficient. The average metal content of the scrap is 350 ppm, and it is intended to extract 500 kg of scrap per day, starting on April 1, 2017. Assume the metal recovered can be sold for $740 per Troy ounce. Professor X* intends to retire when his part of the profits, which amounts to 17.3 % of the total reveune, reaches $5.00 million, or in exactly 25 years, whichever comes first. On what day will Professor X* retire?

Expert Solution

queen_honey_blossom answered 2 years ago

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