The rate of return for the project

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Reference no: EM13959148

You have an investment opportunity with the cash flows shown below. What is the rate of return for the project?

Year

Revenue

0

-$62,000

1

$2,000

2

$5,000

3

$8,000

4

$11,000

5

$14,000

6

$12,000

7

$20,000

8

$23,000

9

$26,000

10

$29,000

The answer given for the rate of return was 14.0%. Please show all work, but do NOT use Excel!

Reference no: EM13959148

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