#finance #steiner-mastering-financial-calculations-3ed
Internal Rate of Return calculated by by discounting all future cashflows and equating it to current price of an instrument is equivalent to the interest rate which it is necessary to use when discounting a series of future values and a cashflow now, to achieve a zero present value (simply substract NPV from both sides of the equation).
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piotr.wasik - (no access) - Mastering Financial Calculations 3ed (Steiner), p17
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