Financial
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=MIRR()
Returns the modified internal rate of return for a series of periodic cash flows. MIRR considers both the cost of the investment and the interest received on reinvestment of cash.
Applies To:
Excel for Microsoft 365Excel for Microsoft 365 for MacExcel 2024Excel 2024 for MacExcel 2021Excel 2021 for MacExcel 2019Excel 2016
=MIRR(values, finance_rate, reinvest_rate)
Hover argument names in the table for details.
Output typeNumber
Popularity30 / 100
VolatileNo
Dynamic ArrayNo
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◧ Arguments
| Argument | Type | Required | Description |
|---|---|---|---|
values |
Range | Required | An array or a reference to cells that contain numbers. These numbers represent a series of payments (negative values) and income (positive values) occurring at regular periods. Values must contain at least one positive value and one negative value to calculate the modified internal rate of return. Otherwise, MIRR returns the #DIV/0! error value. If an array or reference argument contains text, logical values, or empty cells, those values are ignored; however, cells with the value zero are included. |
finance_rate |
Number | Required | The interest rate you pay on the money used in the cash flows. |
reinvest_rate |
Number | Required | The interest rate you receive on the cash flows as you reinvest them. |
▣ Examples
نرخ بازده تعدیلشده سرمایهگذاری پس از پنج سال
=MIRR(A2:A7, A8, A9)
نرخ بازده تعدیلشده پس از سه سال
=MIRR(A2:A5, A8, A9)
نرخ بازده تعدیلشده پنجساله بر اساس reinvest_rate برابر ۱۴ درصد
=MIRR(A2:A7, A8, 14%)
✦ Tips
- MIRR uses the order of values to interpret the order of cash flows. Be sure to enter your payment and income values in the sequence you want and with the correct signs (positive values for cash received, negative values for cash paid).
- If n is the number of cash flows in values, frate is the finance_rate, and rrate is the reinvest_rate, then the formula for MIRR is:
⚠ Common Errors
#DIV/0!
Otherwise, MIRR returns the #DIV/0! error value.
Fix: Enter at least one positive and one negative amount
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