You are asked to advise whether to immediately begin extracting the oil or wait 5 years to begin extraction

If the annual interest rate is 5%, at least how much would the oil have to be worth in the future market for you to advise waiting 5 years to begin extraction? Assume that you are asked to base your recommendation solely on the money earned.
A) Approximately $12 million B) Approximately $13 million
C) Approximately $20 million D) Approximately $10.5 million


B

Environmental & Atmospheric Sciences

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