#385 A project has an initial outla of $4,000

A project has an initial outla of $4,000 - Business Statistics

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Free Chegg Question

A project has an initial outla of $4,000. it has a singlepayoff at the end of the year 4 of $6,996.46.

What is the internal rate of return for the project (round tothe nearest %)

1)0.13

2)0.15

3)0.16

4)0.21

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Free Chegg Answer

The IRR is the rate at which the present value of the project is 0.Therefore,

-4,000 + 6,996.46 / (1 + IRR)^4 = 0
Solving for the IRR, we find that IRR = 0.1500, so the answer is2) 0.15