Question

What is the payback period for a $16,700 investment with the following cash flows: Year 1: $2,100; Year 2: $6,800; Year 3: $4,600; Year 4: $7,300; Year 5: $5,100.
a) 3.22 years
b) 3.65 years
c) 4.10 years
d) 4.56 years