Question
Sharon is making an investment of $80,000 today and expects to receive $2,000 each year for the next five years. At the end of the
Sharon is making an investment of $80,000 today and expects to receive $2,000 each year for the next five years. At the end of the fifth year, a sum of $100,000 will be returned. What is the internal rate of return compounded annually on this investment?
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Investments An Introduction
Authors: Herbert B Mayo
9th Edition
324561385, 978-0324561388
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