A gold mining company discovers a new vein to start mining. The geologists project this mine will produce $400000 per year for 15 years. If the company assumes an earnings rate of 3.5% compunded continuously, determine the Present Value of this mine for the company to list as an asset on their balance sheet. Use P= f(1).e'dt Round your answer to the nearest whole number.
A gold mining company discovers a new vein to start mining. The geologists project this mine will produce $400000 per year for 15 years. If the company assumes an earnings rate of 3.5% compunded continuously, determine the Present Value of this mine for the company to list as an asset on their balance sheet. Use P= f(1).e'dt Round your answer to the nearest whole number.
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 16E
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