You spend $1000 and in return receive two payments of $800- one at the end of three years and the other at the end of six years. Calculate the resulting rate of return without using excel. We have spend $1000 and in return we got $800 at the end of 3years and again $800 at the end of 6 years. Therefore, Let r be the rate of return. 1000 = 800/(1+r)^3 + 800/(1+r)^6 r = 11.3% Therefore we get a return of 11.3%. Can someone show me how the math is done step by step for this equation. 1000 = 800/(1+r)^3 + 800/(1+r)^6 ?

The answer is suppose to be 11.3% and I need to see the steps. I've posted this question 2 times already, but either someone gives me a different answer or they don't post the steps/explain how to get the answer.

Please help.

Thanks