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<< Click to Display Table of Contents >> MIRR (modified internal rate of return) |
Syntax:
MIRR(Values, FinanceRate, ReinvestRate)
Description:
This 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, and income as positive values. The cash flows may vary in size, but they must occur at equal time intervals (e.g., monthly or annually).
The function expects the following arguments:
For Values, you specify a cell range or array in which the cash flows were entered. There must be at least one payment and one income.
FinanceRate is the interest rate paid for investments.
ReinvestRate is the interest rate received for reinvestments.
See also: