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An investor pays$475,000 for a mine that will produce level annual revenue for 22 years. What should the level annual revenue be (received at the
An investor pays$475,000 for a mine that will produce level annual revenue for 22 years. What should the level annual revenue be (received at the end of each year) if the investor is to receive 6.5% annual return on the investment while recovering the principal in a sinking fund earning 5% per year?
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