A mine is purchased for P 1M and it is anticipated that it will be...

90.2K

Verified Solution

Question

Accounting

A mine is purchased for P 1M and it is anticipated that it will be exhausted at the end of 20 years. If the sinking fund rate is 4 %, what must be the annual return from the mine to realize a return of 7 % on the investment?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students