Resumen
AbstractThe internal rate of return and multiple solutions It is often stated that one of the problems that occurs when using the internal rate of return in capital budgeting is that the method can generate multiple rates or solutions. In this article the problem of multiple rates is analysed, using the approach adopted by J.C.T. Mao in his book Quantitative Analysis of Financial Decisions. In order to implement Mao's approach a computer program was written in Apple Basic. The use of the program is illustrated with a few examples.