Excel - Microsoft Excel Mirr Function

Description

The Excel MIRR function returns the Modified Internal Rate of Return for a supplied series of periodic cash flows (ie. a set of values, which includes an initial investment value and a series of net income values). 

The format of the function is : 

MIRR( values, finance_rate, reinvest_rate ) 

Where the arguments are listed in the table below : 

Mirr Function Example

In the spreadsheet below, the cashflow for an investment is shown in cells B2 - B7. The initial investment of $100 is shown in cell B2 and the net income over 5 periods is shown in cells B3 - B7. 

The MIRR function in cell D2 shows the calculation of the Modified Internal Rate of Return after 3 years and the function in cell D4 shows the Modified Internal Rate of Return after 5 years. The formulas for the equations are shown in the spreadsheet on the left and the results are shown in the spreadsheet on the right. 

Mirr Function Errors

If you get an error from the Excel Mirr function this is likely to be one of the following : 

Common Errors