MIRR returns a Number specifying the modified internal rate of return for a series of periodic cash flows (payments and receipts).
The following example is applicable to both Basic and Crystal syntax:
Suppose that you run a business that makes equipment investments, which result in a loss in your first and fourth years. Your expected annual returns are: -$50,000, $40,000, $65,000, -$60,000, $50,000, $70,000. Your losses are financed at 10 percent while you reinvest your earnings in an account at 6 percent. The modified internal rate of return is:
formula = MIRR(Array(
MIRR([
Returns 0.214 (rounded to 3 decimals) or 21.4 percent.
This function is designed to work like the Visual Basic function of the same name.
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