An investment project provides cash inflows of $585 per year for 9 years.  

Required:

Scenario 1 - What is the project payback period if the initial cost is $,700?

Scenario 2 - What is the project payback period if the initial cost is $2,450?

Scenario 3 -  What is the project payback period if the initial cost is $7,320?

Calculating Payback Period