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QUESTION
An investor pays $465,000 for a mine that will produce level annual revenue for 17 years. What should the level annual revenue be (received at the...
An investor pays $465,000 for a mine that will produce level annual revenue for 17 years. What should the level annual revenue be (received at the end of each year) if the investor is to receive 4.5% annual return on the investment while recovering the principal in a sinking fund earning 3% per year? Answer correct to 2 decimals.
