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Suppose you invest $3,000 today and receive $9,000 in five years. a. What is the internal rate of return(IRR) of thisopportunity? b. Suppose another investment

Suppose you invest $3,000 today and receive $9,000 in five years.

a. What is the internal rate of return(IRR) of thisopportunity?

b. Suppose another investment opportunity also requires $3,000 upfront, but pays an equal amount at the end of each year for the next five years. If this investment has the same IRR as the firstone, what is the amount you will receive eachyear?

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