Ken pays $4803.60 for a 3-year annuity of $2,000 per year. What is the Internal Rate of Return?

the internal rate of return is 12%

Explanation:

The computation of the internal rate of return is shown below:

Year         Particulars                   Amount  

0               Initial cost                   -$4,803.6  (C2)

1           Year 1 cash inflows          $2,000  (C3)

2          Year 2 cash inflows         $2,000  (C4)

3           Year 3 cash inflows        $2,000  (C5)

IRR                                                      12.00%

Use this below formula

=IRR(C2:C5)

Hence, the internal rate of return is 12%

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explanation:

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