Approximate internal rate of return for an investment
Question: Which of the following is the approximate internal rate of return for an investment that costs $45,880 and provides a $4,000 annuity for 20 years?a. 11%
b. 6%
c. 8%
d. 10%
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Which of the following is the approximate internal rate of return for an investment that costs $45,880 and provides a $4,000 annuity for 20 years?
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What would be the net present values and the internal rate of return?
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