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# Present Value of a gold mine

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How much should Mr. Graff pay for a gold mine expected to yield an annual return of \$20,000 and to have a life expectancy of 20 years, if he wants to have a 15% annual return on his investment and he can set up a sinking fund that earns 10% a year?

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The solution calculates the present value of a gold mine.

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How much should Mr. Graff pay for a gold mine expected to yield an annual return of \$20,000 and to have a life expectancy of 20 years, if he wants ...

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