To find the exact internal rate of return for projects with uneven cash flows, we can interpolate between two factors from the time value of money table: present value of a $1.
Annuity can't be used for uneven cash flows

Question

Quizplus · Accepted Answer

The present value of a $1 table is used for uneven cash flows because each cash flow is discounted individually, whereas annuity tables assume equal cash flows.

To Find the Exact Internal Rate of Return for Projects