Hello everyone!
I'm a starter in financial math and I have 2 questions about Internal Rate of Return (IRR):

For example, the person X wants to take a $4500 credit from bank at 15.9% for 3 year. The payments to the bank are required to make yearly, not monthly. According to the Financial Calculators and the formula of a PMT (payment) in Excel, if the person X makes payments once a year, the amount of each payment is $2000. So, the person X will make a total $6000 payment, the sum of 3 payments of $2000.

Now, I want to calculate IRR. Financial Calculators say me, the IRR in this case is 15.9%.


Question 1: Is available or not IRR of bank credit not to be the same as Interest Rate of credit?

Question 2: There is the rule of using IRR: If IRR is greater than Interest rate of State Bonds, the investing project is acceptable. and if the IRR is always equal to Interest Rate of credit of bank, which automatically is greater of Interest rate of State Bonds, does this mean that IRR of bank credit is always admissible?

thank you for answers.