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Patrick Smith has $5,000 to invest in a small business venture. His partner has promised to pay him back $8,200 in five years. What is the return that this investment earns

Respuesta :

The return on investment that Patrick Smith earns is 10.4%.

What is the rate of return?

In order to determine the return on investments, the internal rate of return has to be determined.  Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator

IRR = 10.4%

To learn more about the internal rate of return, please check: https://brainly.com/question/24172627

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