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Microsoft® Excel® 2010 Formulas & Functions Inside Out by Helmut Reinke Egbert Jeschke Sara Unverhau, Eckehard Pfeifer, Bodo Fienitz, and Jens Bock

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MIRR()

Syntax. MIRR(Values,Finance_rate,Reinvest_rate)

Definition. This function calculates the internal yield of an investment while evaluating the negative period surpluses with a different interest rate as positive (qualified internal capital yield).

Arguments

  • Values (required) The (actual or expected) surpluses from disbursements and deposits, arranged without gaps in a column. Each value represents the end of a period (usually one year) in ascending order and without gaps. Negative surpluses have a minus sign. At least two values are expected, of which at least one is positive and one negative.

  • Finance_rate (required) The interest rate with which the negative amounts (disbursements) are reduced (discounted) to their cash value.

  • Reinvest_rate

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