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I tried using Excel's RATE formula but wasn't able to come up with the correct answers. Thank you in advance! Solve the following rate of

image text in transcribedI tried using Excel's RATE formula but wasn't able to come up with the correct answers.

Thank you in advance!

Solve the following rate of return problems. a. An investment of $1,000 today returns $56,000 in 50 years. What is the internal rate of return on this investment? b. An investment costs $900,000 today and promises a single payment of $12.2 million in 22 years. What is the promised rate of return, IRR, on this investment? c. What return do you earn if you pay $21,980 for a stream of $6,000 payments lasting 10 years? Note: Round your answers to 2 decimal places

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