Finding Multiple Internal Rates Of Return For A Project With Non-Conventional Cash Flows: Utilizing Popular Financial/Graphing Calculators And Spreadsheet Software

Abstract

This study demonstrates that a popular graphing calculator among students, TI-83 Plus, has a powerful function to draw the NPV profile and find the accurate multiple IRRs for a project with non-conventional cash flows. However, finance textbooks or related supplementary materials do not provide students instructions for this part. The detailed steps to find multiple IRRs utilizing TI-83 Plus are displayed in this paper. In addition, the complete and detailed procedures to find multiple IRRs utilizing different financial calculators and Excel spreadsheet are discussed.