Determine the future worth in year 10 of a mineral lease

Reference no: EM13179260

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 yields income of $12,000 in years one through four and then amounts that decrease by $1,200 per year through year 10. Use an interest rate of 16%.

Reference no: EM13179260

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