Income from the mining of mineral deposits usually decreases

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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 amounts that decreased by 5% per year through year 10. Use an interest rate of 18% per year. Show spreadsheet solutions.

Reference no: EM131002033

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