Homework #6C (IRR and MIRR annually and semi-annually)

Homework #6C (IRR and MIRR annually and semi-annually)

Finance

This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems. Do not use algebraic formulas to calculate these problems.

Question 3 (1 point)

Find the internal rate of return (IRR) for the following series of future cash flows. The initial outlay is $744,700.

Year 1: 180,700

Year 2: 179,900

Year 3: 143,100

Year 4: 188,800

Year 5: 145,700

Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)