Three fans are to be installed at a mine site; one immediately at a price of $560,000, one in five years at an estimated cost of $610,000 and the third in eight years at a cost of $680,000. 

Determine the total expenditure as a present value if the annual interest rate is 6%.

Answer rating: 100% (QA)

To determine the total expenditure as a present value we need to calculate the present value ... View the full answer