What fees course charge in order to meet cost of finance

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Question: Mosaic is rehabilitating an old phosphate mine into a rather challenging golf course. The cost of building the golf course was $15 million and annual maintenance is expected to cost $2 million. If the golf course attracts 5,000 golfers a month, what fees should the course charge in order to meet the cost of finance, which is estimated to be 8% per year over a period of 25 years.

Reference no: EM132002916

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