CHAPTER 6 C-1
CHAPTER 7
BULLOCK GOLD MINING
1. An example spreadsheet is:
CHAPTER 6 C-2
2. Since the NPV of the mine is positive, the company should open the mine. We should note, it may be
later chapter.
3. There are many possible variations on the VBA code to calculate the payback period. Below is a VBA
program from http://www.vbaexpress.com/kb/getarticle.php?kb_id=252.
Function PAYBACK(invest, finflow)
Dim x As Double, v As Double
Loop Until i > c
PAYBACK = “no payback”
End Function