Matt invested ($ 100,000) to open Steakhouse. He withdrew ($ 10,000) at the end of each year

Question:

Matt invested $\$ 100,000$ to open Steakhouse. He withdrew $\$ 10,000$ at the end of each year for three years. At the end of the third year, Matt sold the restaurant for $\$ 120,000$ cash. His discount rate is $15 \%$. What is the net present value of Matt's investment? What is the internal rate of return on this business?

Fantastic news! We've Found the answer you've been seeking!