Excel: IRR and RATE Give Different Results in Version 3.00

ID: Q70976

The information in this article applies to:

Microsoft Excel for Windows, versions 3.0, 4.0
Microsoft Excel for the Macintosh, versions 3.0, 4.0

SUMMARY

In Microsoft Excel version 3.0 or 4.0, the IRR and RATE functions have been enhanced to increase the precision of the answer. Therefore, it is possible for IRR and RATE to return a different values than they do in Microsoft Excel version 2.2 or earlier.

MORE INFORMATION

Excel 3.0 increases the precision of IRR and RATE by increasing the number of iterations before the solution is returned.

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