MIRR(values, finance_rate, reinvest_rate)

Returns the internal rate of return for a series of unequal cash flows at regular intervals (explicit reinvestment rate).

valuesA series of cash flows.
finance_rateThe interest rate you pay on the money used in the cash flows.
reinvest_rateThe interest rate you receive on the cash flows as you reinvest them.

Remarks

* This function takes into account the cost of borrowed money and assumes resulting cash flows are invested.
* This function assumes all payments are at the end of each period.
* Every cash flow occurs at the end of each period except for the first cash flow, which is at the beginning (check).
* A negative number represents any cash you pay out.
* A positive number represents any cash you receive (start with or end with).
* The "values" series must contain at least one positive value and one negative value. Example ??
* Any cells that contain zero will be included.
* If an array or reference argument contains text, logical values, or empty cells, those values are ignored.
* This function uses the order of values to interpret the order of cash flows.
* You can use the RATE function to return the interest rate for a series of equal cash flows at regular intervals.
* You can use the IRR function to return the interest rate for a series of unequal cash flows at regular intervals (implicit reinvestment rate).
* You can use the XIRR function to return the interest rate for a series of unequal cash flows at irregular intervals.
* The equivalent VBA function is MIRR
* For the Microsoft documentation refer to support.office.com

 A
1=MIRR({-10,30,20,10,20},0.1,0.12) = 77.128%
2=MIRR({-100,30,30,30,30},0.1,1) = 45.648%
3=MIRR({-50,20,40,70},10/100,12/100) = 40.908%
4=MIRR({-5,1,2,3,4},10/100,0.12) = 22.539%
5=MIRR({1000,2000,3000},10%,12%) = #DIV/0!

5 - What annual interest rate have you received - all the cash flows are positive
8 - If "values" does not contain at least one positive and one negative value then #DIV/0! is returned

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