jed wants to borrow 1000 from me. he is proposing to repay me with 3 annual payments of 296.20 starting immediately. in addition, he will make a final lump sum payment of 180 three years from today. what rate of return am I earning on the loan ? percentage rounded to two decimal places
year | cash flow | ||
0 | (703.80) | (-1000+296.2) | |
1 | 296.20 | ||
2 | 296.20 | ||
3 | 180.00 | ||
IRR =IRR (B2:B5) | 5.20% | ||
what rate of return am I earning on the loan | 5.20% |
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