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An investor pays $195,000 for a mine that will produce level annual revenue for 21 years. What should the level annual revenue be (received at
An investor pays $195,000 for a mine that will produce level annual revenue for 21 years. What should the level annual revenue be (received at the end of each year) if the investor is to receive 8% annual return on the investment while recovering the principal in a sinking fund earning 6.5% per year? |
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