# MIRR

## Definition

Calculates the modified internal rate of return on an investment based on a series of periodic cash flows and the difference between the interest rate paid on financing versus the return received on reinvested income.

#### Sample Usage

#### Syntax

`MIRR(cashflow_amounts, financing_rate, reinvestment_return_rate)`

`cashflow_amounts`

- An array or range containing the income or payments associated with the investment.`cashflow_amounts`

must contain at least one negative and one positive cash flow to calculate rate of return.

`financing_rate`

- The interest rate paid on funds invested.`reinvestment_return_rate`

- The return (as a percentage) earned on reinvestment of income received from the investment.

#### Notes

- Each cell in
`cashflow_amounts`

should be positive if it represents income from the perspective of the owner of the investment (e.g. coupons) or negative if it represents payments (e.g. loan repayment).

#### See Also

`XNPV`

: Calculates the net present value of an investment based on a specified series of potentially irregularly spaced cash flows and a discount rate.

`XIRR`

: Calculates the internal rate of return of an investment based on a specified series of potentially irregularly spaced cash flows.

`PV`

: Calculates the present value of an annuity investment based on constant-amount periodic payments and a constant interest rate.

`NPV`

: Calculates the net present value of an investment based on a series of periodic cash flows and a discount rate.

`IRR`

: Calculates the internal rate of return on an investment based on a series of periodic cash flows.

#### In order to use the MIRR formula, start with your edited Excellentable: