I love bow hunting. You could find a compound for that price but then you have arrows,rest,release,quiver and set up.
Cheaper route at that budget may be a used longbow or recurve. Then you have bow,arrows and release(glove or tab) for under that. If you go this route get one that is around 45 pounds at 28 inches of draw.
I shoot both. I love going out in the yard flinging arrows.