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7) Find the rate or return on an investment if it generated year end payments of $6,000 for 20 years, but required cash outlays of

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7) Find the rate or return on an investment if it generated year end payments of $6,000 for 20 years, but required cash outlays of $30,000 today and $40,000 in 8 years from today. Find the rate of return (or IRR) compounded annually on the project. (3 marks-16.3)

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