# principles of finance

A project has intial outlay of 4,000. It has a single payoff at the end of year 4 0f 6,9996.46. What is the internal rat of return for the project (round to the nearest %) need by tonight. Thank You

4000*(1+r)^4 = 6996.46
(I think you typed too many nines in 6,9996.46)
(1+r)^4 = 1.749119
1+r = 1.15002
r = 15.0 % annual rate of return

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