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Question $4$ of $5$

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Knowledge Check

A purchase of a backhoe with an $8-$year life requires an initial investment of $$89,100,$ has positive cash flows of $$10,000$ per year, and has an estimated salvage value of $$21,100.$ Indicate the inputs to be entered into the financial calculator keys. What is the return of the investment? $($Round internal rate of return to two decimal places $($e$.$g$.,52\mathrm{.}75\%).)$

$$

$$

Calculator

Keys

$N$

$$

PV

PMT

FV

IRR

$\%$

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Using Technological Tools: Useful Applications $($Auto Loan$)-$ Lecture Video $(2$ min$)$

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