The MIRR function is the one that would return with the internal return rate for a series of cash flows. The function also take investment cost and received interest on the cash that is being reinvested into consideration.

Syntax and Arguments

The syntax of MIRR looks like this MIRR(values;finance rate;reinvest rate), and each argument works together to find the right answers.

Values: It is either a reference or array that contain numbers. The values (numbers) represent a series of both negative value and positive values that occur at stable periods. The value must have one negative and one positive for it to work.

Finance rate: This is the interest rate that is paid on amount of money used in the cash flows.

Reinvest rate: This is the recipient interest rate on the cash flows as they are being reinvested.

Example 1: A simple MIRR Formula

A client is considering an investment, and came to the broker to find out the interest it would worth after five years. Traditionally, we'd just inform the client. But, the client is persistent, and is determined to acknowledge the information by himself. For that reason, we’d setup the MIRR for him to see the details.

A simple MIRR Formula

Example 2: A More Detailed Formula

The client wants to experiment a little about the calculation, and for that reason, it became necessary to try and use the detailed information for acknowledgement of the potential interest for the details.

A More Detailed Formula

Example 3: Flexibility in MIRR

With the information, the bank is determine the interest value, if the interest rate was specific. MIRR was the perfect and logic option for acknowledging how the whole thing would work out, and with the knowledge that the client already know how much she has invested, and how it was affecting their current financial situation. They are considering how they would easily make more money, if the interest rate was specific.

Flexibility in MIRR

Example 4: MIRR and Average

The company wants to evaluate a policy, which also includes looking at the average performance of the whole investment. This is why we are going to use both average and MIRR functions for the acknowledgement.

MIRR and Average

Example 5: Average and MIRR

The situation is quite different in this case, which is under the circumstances that the client has been layout, and wants to know what works best for the client that has established different ways, but this time we would like to know how the rate has been layout for the past year, which has led to a productive data, but we do not know. This is why we will use the AVERAGE and MIRR formulas in one formula.

Average and MIRR

Example 6: MIN and MIRR

The business has a long history of different rates, and this has been for quite a while. For years, we have different rates, and now we are choosing the minimum rate for the circumstances, which is why we are now using both Min and MIRR formulas.


Example 7: What is MIRR of 350,000?

We have a client who has 350000, and she is trying to find out how much that money would worth, when the interest rate has already been acknowledged. This is what makes it possible to acknowledge that we need to format the cell to currency after the formula has been inputted.

What is MIRR of 350000

Example 8: IF and MIRR

The client is asking a question, which includes us acknowledging that we need to find a way to see how the performance would work. The client asks for the interest rate on investment, and we’d know that the client must have a specific amount in the investment account for that MIRR to be possible, which is why we are using both IF and MIRR formula to find answers.


Example 9: MAX and MIRR

The company is evaluating how to make use of the information that is currently in the business, and we want to rather use the max and MIRR formulas to find answers. All our interest rates have been layout, but we rather use the max formula.


Example 10: MIRR, MAX and MIN

In this example, the situation is very different, and we do not make an investment and interest rate that would work effectively to find the balance between the client and the business. This is where MIRR, MAX and MIN would work together to provide the perfect result.