Using internal rate of return method

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Reference no: EM131067103

Billy and Mandy Jones have $24,000 to invest. On average, they do not make any investment that will not return at least 7.4% per year. They have been approached with an investment opportunity that requires $24,000 upfront and has a payout of $5,900 at the end of each of the next 5 years. Using internal rate of return (IRR) method and their requirements, determine whether Billy and Mandy should undertake the investment.

The internal rate of return (IRR) of this investment opportunity is ____%

Reference no: EM131067103

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