A local entrepreneur asks you to invest $10,000 in a business venture.

A local entrepreneur asks you to invest $10,000 in a business venture. Based on your estimates, you would receive nothing for three years, at the end of year four you would receive $4,900, and at the end of year five you would receive $14,500. If your estimates are correct, what would be the IRR on this investment?

Related Book For answer-question

Fundamentals Of Investing

14th Edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

ISBN: 9780135175217

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