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A local entrepreneur asks you to invest $13,000 in a business venture. Based on your estimates, you would receive nothing for 3 years, at
A local entrepreneur asks you to invest $13,000 in a business venture. Based on your estimates, you would receive nothing for 3 years, at the end of year 4 you would receive $4,686, and at the end of year 5 you would receive $26,058. If your estimates are correct, what would be the IRR on this investment? The yield on this investment is %. (Round to the nearest whole percent.)
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
7th edition
978-0133856507, 013385650X, 133856437, 978-0133856439
