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7. (5 points) The rights to mine gold in India was bought for $15,000,000. During the first seven years of operations, the company was able
7. (5 points) The rights to mine gold in India was bought for $15,000,000. During the first seven years of operations, the company was able to get an annual gross income of $$,000,000, and from the years after, the gross income is projected at $2,500,000. Given that money earns 3% pef year, determine at what year will the mine be fully depleted, if gold depletes at 15% per year. 7. (5 points) The rights to mine gold in India was bought for $15,000,000. During the first seven years of operations, the company was able to get an annual gross income of $$,000,000, and from the years after, the gross income is projected at $2,500,000. Given that money earns 3% pef year, determine at what year will the mine be fully depleted, if gold depletes at 15% per year
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