I just needed some help solving a question to find the internal rate of return (IRR). I have attached the problem.
How do I find IRR from the equation?
I have the solution of 13.45%
Thanks for your reply
Ok I expanded the brackets dividing the whole thing by 1000 first
...very tedious method used Pascals triangle
Then I collected the like terms together this is what I got.. (I hope I didnít make a mistake!!)
Then divided the whole thing by 0.5
LOL after all that Iím still nowhere close to the answer 13.45%...
Iím I going the right way about this.. surely there is a simpler method?
i am sorry, but i do not see a nice way to solve this. there is no general formula for solving general polynomials of degree 5 or above. and this guy does not look like a nice guy to factor.