Modified internal rate of return

Returns the modified internal rate of return on a set of periodic payments. This function takes into consideration both the cost of investment and the interest received on investment.

To calculate the internal rate of return for payments that do not occur at regular intervals, see XIRR (internal rate of return for payments at irregular intervals).

Syntax

MIRR <FactID> (Argument, FinancialRate, ReinvestRate)

Where:

FactID is a parameter that forces a calculation to take place on a fact table that contains the selected fact.

Argument is a list of values containing a set of numbers. Entries in this list can represent payments (negative values) or income (positive values) occurring at regular intervals.

FinancialRate is the interest rate paid.

ReinvestRate is the interest rate received on reinvested funds.

Expression

Usage Notes

If Argument does not contain at least one positive entry (income) and one negative entry (payments), the engine returns an empty cell.

In calculating the return for this function, the order in which entries are provided is assumed to be the order in which funds flow; it is important, therefore, that payments and income be entered in the correct sequence.