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Glenda made an investment of $35,000 in a new technology company. As agreed upon in the contract, Glenda received $5,000 at the end of year 1, with the amount received increasing by $500 each subsequent year. Glenda received the payments for eight years. What was the IRR for the investment? Compute the IRR to the nearest 0.10. Enter your answer as 1.23. Do not use a percent sign ("%"). For example, if you compute an IRR of 13.54% enter it as 13.54
Apr 30 2020 View more View Less
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