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Discounted payback approach

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"You invest $7,200 now and receive $3,600 at the end of year 1, $3,400 at the end of year 2, $3,200 at the end of year 3, and so on. In what year do you break even on your investment? Use the discounted payback approach and assume an annual interest rate of 5.5%, compounded annually. Enter your answer as an integer."

Reference no: EM131941098

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