Question: Patrick pays $100,000 for his part-time MBA while working at his job and finishes it in one year (worked really hard). Let us assume that

Patrick pays $100,000 for his part-time MBA while working at his job and finishes it in one year (worked really hard). Let us assume that for the following years of his career he makes $20,000 a year more as a result of the MBA than if he had not. If his personal IRR (hurdle rate for investments) were 15%, approximately how many years would it take for Patrick to get his money back? Hint: Use the typical IRR calculation method using spreadsheet, but play with the time horizon.\ \ Question 25 options:\ \ 5\ \ \ 10\ \ \ 15\ \ \ 20\ \ \ 30

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