Problem 7-3\ Solve the following rate of return problems.\ a. An investment of

$1,100

today returns

$57,000

in 50 years. What is the internal rate of return on this investment?\ b. An investment costs

$950,000

today and promises a single payment of

$12.3

million in 22 years. What is the promised rate of return, IRR, on this investment?\ c. What return do you earn if you pay

$23,930

for a stream of

$6,000

payments lasting 10 years?\ Note: Round your answers to 2 decimal places.\ \\\\table[[a. IRR,

%

Solve the following rate of return problems. a. An investment of $1,100 today returns $57,000 in 50 years. What is the internal rate of return on this investment? b. An investment costs $950,000 today and promises a single payment of $12.3 million in 22 years. What is the promised rate of return, IRR, on this investment? c. What return do you earn if you pay $23,930 for a stream of $6,000 payments lasting 10 years? Note: Round your answers to 2 decimal places