10. (Geometric) Income from the mining of mineral deposits usually decreases as the resource becomes...
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10. (Geometric) 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. P=A[i(1+i)n(1+i)n1]Pg=A[1(1+i1g)n]/(i+g)P=(1+i)nPg3=FF=P(1+i)n
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