Based on the question no. 2, if we change the initial investment to $2400, we can conclude that: You are at the beginning of the year, and you are offered an investment scheme that will give you $1300 at every end of the year for the next five years. However, you can only claim the investment at the end of year 5 . As you expected, the cash flow will get an after-tax 10% interest rate per annum (compounded annually) during the investment period. How much will you collect ($) at the end of year 5? Continuing the previous question, if the investment scheme requires initial investment of $4600, what is the NPV of the investment scheme