MIRR Function

MIRR Function

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Class

Microsoft.VisualBasic.Financial

Syntax

     Dim result As Double = MIRR(valueArray(  ), financeRate, reinvestRate) 

valueArray( ) (required; array of Double)

An array of cash-flow values

financeRate (required; Double)

The interest rate paid as the cost of financing.

reinvestRate (required; Double)

The interest rate received on gains from a cash investment.

Description

The MIRR function calculates the modified internal rate of return, the rate calculated from a series of payments and receipts that are financed at different rates.

Usage at a Glance

• valueArray must be a one-dimensional array that contains at least one negative value (a payment) and at least one positive value (a receipt). The order of elements within the array should reflect the order in which payments and receipts occur.

• The rates are supplied as a decimal percent. For example, 10% is stated as 0.1.

• Each element of valueArray represents a payment or a receipt that occurs at a regular time interval. If this is not the case, MIRR will return erroneous results.

See Also

IRR Function