The Excel MIRR function is a financial function that returns the modified internal rate of return (MIRR) for a series of cash flows, taking into account both discount rate and reinvestment rate for future cash flows.
Calculate modified internal rate of return
Calculated return as percentage
=MIRR (values, finance_rate, reinvest_rate)
values - Array or reference to cells that contain cash flows.
finance_rate - Required rate of return (discount rate) as percentage.
reinvest_rate - Interest rate received on cash flows reinvested as percentage.
The standard Internal rate of return function (IRR) assumes all cash flows are reinvested at the same rate as the IRR. The modified internal rate of return function (MIRR) accepts both the cost of investment (discount rate) and a reinvestment rate for cash flows received.
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