(Answered) Long-term investment decision irr methodpersonal finance

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Long-term investment? decision, IRR method

Personal Finance Problem

Billy and Mandy Jones have ?$24,000 to invest. On? average, they do not make any investment that will not return at least 7.7?% per year. They have been approached with an investment opportunity that requires ?$24,000 upfront and has a payout of ?$6,100 at the end of each of the next 5 years. Using the internal rate of return? (IRR) method and their? requirements, determine whether Billy and Mandy should undertake the investment.

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