Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A project has an initial cost of $ 4 0 , 0 0 0 , expected net cash inflows of $ 1 1 , 0

A project has an initial cost of $40,000, expected net cash inflows of $11,000 per year for 7 years, and a cost of capital of 11%. What is the project's payback period? Round your answer to two decimal places.
___________ years [Please provide the correct answer and do NOT copy from other responses]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management for Public Health and Not for Profit Organizations

Authors: Steven A. Finkler, Thad Calabrese

4th edition

133060411, 132805669, 9780133060416, 978-0132805667

More Books

Students also viewed these Finance questions