Your investment in a mining spaceship is expected to have


Your investment in a mining spaceship is expected to have high payoffs at regular intervals. The ship will mine rare compounds from comets, and return to earth every six years. The cash flows from the investment are expected to be $400 million every sixth year, beginning six years from now, and ending sixty years from now. If the appropriate interest rate is 7%, simple annual rate, what is the present value of your investment?

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Financial Management: Your investment in a mining spaceship is expected to have
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