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<< Click to Display Table of Contents >> MIRR (modified internal rate of return) |
Syntax:
MIRR(Values, FinanceRate, ReinvestRate)
Description:
Returns the modified internal rate of return for a series of cash flows. Unlike the IRR function, MIRR considers the finance rate (for investments) and the reinvest rate (for reinvestments).
The calculation is based on the cash flows specified in the Values argument. Payments have to be entered as negative values, income as positive values. The cash flows do not have to be even but they must occur in regular intervals (e.g., monthly).
The function expects the following arguments:
Values is a cell range or array containing the cash flows. At least one payment and one income have to be given.
FinanceRate is the interest rate paid for investments.
ReinvestRate is the interest rate received for reinvestments.
See also: