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You are offered the opportunity to invest for your retirement. If you invest $25,000 today, you will receive payments of $10,000 in the first year
You are offered the opportunity to invest for your retirement. If you invest $25,000 today, you will receive payments of $10,000 in the first year and $17,500 in the second year. What is the rate of return that this investment provides (IRR = internal rate of return)?
| a. | 5.00% | |
| b. | 5.72% | |
| c. | 6.02% | |
| d. | 6.57% |
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