Long-term investment? decision, IRR method
Personal Finance Problem
Billy and Mandy Jones have ?$24,000 to invest. On? average, they do not make any investment that will not return at least 7.7?% per year. They have been approached with an investment opportunity that requires ?$24,000 upfront and has a payout of ?$6,100 at the end of each of the next 5 years. Using the internal rate of return? (IRR) method and their? requirements, determine whether Billy and Mandy should undertake the investment.