Consider an investment that costs $1$ million dollars and has a cash inflow of $$150,000.$ The require rate of return is $12$ percent monthly. What is the payback period? Do we need the rate of return to solve for the payback period?

$6\mathrm{.}66$ years. No

$7\mathrm{.}25$ years. Yes

$7\mathrm{.}25$ years. No

$6\mathrm{.}66$ years. Yes