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-Dominant- [34]
3 years ago
15

A project that costs $25,000 today will generate cash flows of $8,600 per year for seven years. What is the project's payback pe

riod?
Business
1 answer:
Nimfa-mama [501]3 years ago
5 0

Answer: 2.90 years.

Explanation:

Payback period is the amount of time that it will take a project to pay back or recuperate the initial investment in the project.

This project is making $8,600 a year and had an initial investment of $25,000.

The Payback period is;

= Investment / Annual Cashflow

= 25,000 / 8,600

= 2.90 years.

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