Internal Rate of Return problem

[Jox]

Hi, need some help here please about IRR. Here is the problem...
1773.81 = 100,000 * r * (1+r)^84 / (1+r)^84 - 1

I can't seem to get the equation right ?

 

[Jox]

Where
1773.81 = Monthly Payment
100,000 = Principal
84 = Number of months
r =???

 

[Deleted member 4993]

Hi, need some help here please about IRR. Here is the problem...
1773.81 = 100,000 * r * (1+r)^84 / (1+r)^84 - 1

I can't seem to get the equation right ?☹

Please check the equation and make sure that it is posted correctly.

 

[JeffM]

Do you mean that you are not sure whether you are using the correct equation, or do you mean that you cannot solve the equation for r?

What have you tried? Did these numbers arise from a problem in a course? What course? What tools have you been taught to use?