In what year do you break even on your investment

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You invest $6,300 now and receive $1,500 at the end of year 1, $1,400 at the end of year 2, $1,300 at the end of year 3 and so on. In what year do you break even on your investment? Use the discounted payback approach, not simple payback, and assume an annual interest rate of 8%, compounded annually.

Reference no: EM13889537

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