This function returns the modified internal rate of return for a series of periodic cash flows.

Syntax

MIRR(arrayvals,payment_int,income_int)

Arguments

This function has these arguments:

Argument |
Description |

arrayvals |
An array of numbers for which you want to estimate the internal rate of return representing payments and income occurring at regular intervals (and use positive for income and negative for payment) |

payment_int |
Interest rate on money in cash flows |

income_int |
Interest rate on money invested from cash flows |

Values must contain at least one positive value (some income) and one negative value (a payment) to calculate the internal rate of return. The payments and income must occur at regular time intervals, such as monthly or annually.

Remarks

If an array or reference argument contains text, logical values, or empty cells, the function ignores those values; however, the function includes in calculations cells with the value zero.

This function uses the order of values to interpret the order of payments and income. Be sure to enter your payment and income values in the sequence you want with correct signs. The payments and income must occur at regular time intervals, such as monthly or annually.

Data Types

Accepts numeric data for all arguments, the first being an array. Returns numeric data.

Examples

MIRR(D1:D6, D10, D12)

MIRR(R1C4:R6C4, R10C4, R12C4)

MIRR({7300,-15000,4036,3050},6.5%,8%) gives the result 0.0564050548577524

See Also