# MIRR

MIRR(values, finance_rate, reinvest_rate)

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

 values A series of cash flows. finance_rate The interest rate you pay on the money used in the cash flows (cost of borrowing). reinvest_rate The 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 (implicit reinvestment rate).* The equivalent VBA function is VBA.MIRR* For the Microsoft documentation refer to support.microsoft.com* For the Google documentation refer to support.google.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 positive8 - If "values" does not contain at least one positive and one negative value then #DIV/0! is returned