Real Estate Principles 3rd Edition by David Ling,Wayne Archer

Exercise 7

Using the CFj key of your financial calculator, determine the IRR of the following series of annual cash flows: CF 0 = - $31,400; CF 1 = $3,292; CF 2 = $3,567; CF 3 = $3,850; CF 4 = $4,141; and CF 5 = $50,659.