Question about IRR and early prepayment

Suppose I look at a 36 month loan for \$10,000 at 20%. Thus my payment per month is \$166.67. Thus my IRR should be 20% (on an annualized basis).

Now let's suppose I prepay my loan early at the end of 24 months. Doing the calculation, I still get the same IRR of 20%. Can someone confirm that this is in fact the case?

Thanks, Greg

• This should migrate to mathematics or economics. – Dave Harris Jul 21 '17 at 6:06
• You need to provide more information. When exactly are you calculating IRR? If principal is returned early, future interest payments may not be paid on that part of the principal. – jd8 Jul 21 '17 at 14:33