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Your friend asks you to invest $10,000 in a business venture. Based on your estimates, you would receive nothing for four years, at the end
Your friend asks you to invest $10,000 in a business venture. Based on your estimates, you would receive nothing for four years, at the end of year five you would receive interest on the investment compounded annually at 8% and at the end of year six you would receive $14,500. If your estimates are correct, what would be the IRR on this investment?
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