This video shows how to calculate the IRR using trial and error.

The IRR (internal rate of return) is the rate of return that would result in an NPV (net present value) of zero for the project if that rate of return is used as discount rate. The IRR can be found using trial and error. This involves setting up an equation with the discounted cash flows equal to zero, and then solving for the value of “r” that makes the equation balance.