MIRR

This method specifies the modified internal rate of return for a series of periodic cash flows, such as payments and receipts.

Syntax

financial.MIRR(values, finance_rate, reinvest_rate)

Parameters

financial

Reference to a Financial control.

values

Required. Variant array that specifies cash flow values. The array must contain at least one negative value (a payment) and one positive value (a receipt).

finance_rate

Required. Variant that specifies the interest rate paid as the cost of financing.

reinvest_rate

Required. Variant that specifies the interest rate received on gains from cash reinvestment.

Return Value

Result of the MIRR calculation.

Remarks

The modified internal rate of return is the internal rate of return when payments and receipts are financed at different rates. The MIRR method takes into account both the cost of the investment (finance_rate) and the interest rate received on reinvestment of cash (reinvest_rate).

The finance_rate and reinvest_rate parameters are percentages expressed as decimal values. For example, 12 percent is expressed as 0.12.

The MIRR method uses the order of values within the array to interpret the order of payments and receipts. Be sure to enter your payment and receipt values in the correct sequence.