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Income from the mining of mineral deposits usually decreases as the resource becomes more difficult to extract. Determine the future worth in year 10 of a mineral lease that yielded income of $14,000 in years 1 through 4 and then the amount decreases by 5% per year through year 10. Use an interest rate of 18% per year. Draw the cash flow diagram.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92405901

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