Syntax: MIRR(V, F, R)
V = A range of values representing periodic income
(positive values) and payments (negative values)
F = Finance rate, the interest paid on the payments
R = Reinvestment rate, the rate of return on the income
MIRR returns the Modified Internal Return Rate for a range of periodic cash flows. Blanks and text are treated as zeros.
Example:
| A | B | |
| 1 | Investment | -140000 |
|---|---|---|
| 2 | 1st year return | 34000 |
| 3 | 2nd year return | 46000 |
| 4 | 3rd year return | 45000 |
| 5 | 4th year return | 47000 |
| 6 | 5th year return | 46000 |
MIRR(B1..B6, 11%, 12.5%) = 0.14522
Excel function: MIRR