Note
Access to this page requires authorization. You can try signing in or changing directories.
Access to this page requires authorization. You can try changing directories.
Function Declaration
-
Function IRR(ValueArray() As Double, Optional Guess As Variant) As Double
|
Parameter |
Description |
|---|---|
|
Values |
Array of Double data values specifying cash flow values. The array MUST contain at least one negative value (a payment) and one positive value (a receipt). |
|
Guess |
Double data value specifying estimated value that will be returned by IRR. If omitted, Guess is the data value 0.1 (10 percent). |
Runtime Semantics.
§ Returns a Double data value specifying the internal rate of return for a series of periodic cash flows (payments and receipts).
§ The internal rate of return is the interest rate received for an investment consisting of payments and receipts that occur at regular intervals.
§ The IRR function uses the order of values within the array to interpret the order of payments and receipts. The cash flow for each period doesn't have to be fixed, as it is for an annuity.
§ IRR is calculated by iteration. Starting with the value of guess, IRR cycles through the calculation until the result is accurate to within 0.00001 percent. If IRR can't find a result after 20 tries, it fails.