MIRR function
Summary
Returns the internal rate of return where positive and negative cash flows are financed at different rates
Syntax
MIRR(values, finance_rate, reinvest_rate)
The MIRR function syntax has the following arguments:
• Values Required. An array or a reference to cells that contain numbers. These numbers represent a series of payments (negative values) and income (positive values) occurring at regular periods. Values must contain at least one positive value and one negative value to calculate the modified internal rate of return. Otherwise, MIRR returns the #DIV/0! error value. If an array or reference argument contains text, logical values, or empty cells, those values are ignored; however, cells with the value zero are included.
• Values must contain at least one positive value and one negative value to calculate the modified internal rate of return. Otherwise, MIRR returns the #DIV/0! error value.
• If an array or reference argument contains text, logical values, or empty cells, those values are ignored; however, cells with the value zero are included.
• Finance_rate Required. The interest rate you pay on the money used in the cash flows.
• Reinvest_rate Required. The interest rate you receive on the cash flows as you reinvest them.
• Values Required. An array or a reference to cells that contain numbers. These numbers represent a series of payments (negative values) and income (positive values) occurring at regular periods. Values must contain at least one positive value and one negative value to calculate the modified internal rate of return. Otherwise, MIRR returns the #DIV/0! error value. If an array or reference argument contains text, logical values, or empty cells, those values are ignored; however, cells with the value zero are included.
• Values must contain at least one positive value and one negative value to calculate the modified internal rate of return. Otherwise, MIRR returns the #DIV/0! error value.
• If an array or reference argument contains text, logical values, or empty cells, those values are ignored; however, cells with the value zero are included.
• Finance_rate Required. The interest rate you pay on the money used in the cash flows.
• Reinvest_rate Required. The interest rate you receive on the cash flows as you reinvest them.
Example
=MIRR(A2:A7, A8, A9)
=MIRR(A2:A5, A8, A9)
=MIRR(A2:A7, A8, 14%)
=MIRR(A2:A5, A8, A9)
=MIRR(A2:A7, A8, 14%)