Answer:
the government had to pay the landowners for it
Future value = FV = $6000
Time period = n = 8
interest rate = r = 12%
Present value (PV) is calculated using the formula:
PV = FV/(1+r)n
Present Value = PV = 6000/(1+12%)8 = 6000/1.128 = 2423.299368
Answer -> 2,423
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The Bessemer process was the first inexpensive industrial process for the mass-production of steel from molten pig iron. Independently discovered in 1851 by William Kelly, the process had also been used outside of Europe for hundreds of years, but not on an industrial scale.
