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8. A mining company knows that eight years from now it will be required to pay $4 000,000 pe year to restore the site of

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8. A mining company knows that eight years from now it will be required to pay $4 000,000 pe year to restore the site of a major mine. It is unsure as to how many of these annual payments will be required, but it knows that these payments are likely to be required for marvy years the first of the annual payments will occur at the end of year eight. To meet these obligations, thve company invests $10,224,000 today. Assumin an annual interest how many years will the firm be able to make the annual payments ot $4,00o rate of 12% for an years, for

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