Based on this information calculate the IRR for the project ___What's the present value of the $1,100 due in 20 years (FV=$1,000)?

Based on this information calculate the IRR for the project ___What's the present value of the $1,100 due in 20 years (FV=$1,000)? We assume current interest rate is 8%, compounded annually.

Answer Present Value = 1100/ (1+0.08) ^20= 236IRR = ((FV/PV) ^ (1/N))-1= ((1000/236) ^0.05) - 1= 7.486618% that's the answer, reconfirm from your ProfN = number of periods