Internal rate of return is often called the payback rate of return.

Name: Internal rate of return is often called the payback rate of return.
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Internal rate of return is not the same as payback period. IRR is the rate at which the net present value of cash inflows equals the net present value of cash outflows, while payback period determines the length of time it takes to recoup the initial investment.

Internal Rate of Return Is Often Called the Payback Rate