Financial.MIRR(Double[], Double, Double) Method
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Returns a value specifying the modified internal rate of return for a series of periodic cash flows (payments and receipts).
public:
static double MIRR(cli::array <double> ^ % ValueArray, double FinanceRate, double ReinvestRate);
public static double MIRR (ref double[] ValueArray, double FinanceRate, double ReinvestRate);
static member MIRR : Double[] * double * double -> double
Public Function MIRR (ByRef ValueArray As Double(), FinanceRate As Double, ReinvestRate As Double) As Double
- ValueArray
- Double[]
Required. Array of Double specifying cash-flow values. The array must contain at least one negative value (a payment) and one positive value (a receipt).
- FinanceRate
- Double
Required. The interest rate paid as the cost of financing.
- ReinvestRate
- Double
Required. The interest rate received on gains from cash reinvestment.
The modified internal rate of return for a series of periodic cash flows (payments and receipts).
Rank of ValueArray
does not equal 1, FinanceRate
= -1, or ReinvestRate
= -1
Division by zero has occurred.
This example uses the MIRR
function to return the modified internal rate of return for a series of cash flows contained in the array Values()
. LoanAPR
represents the financing interest, and InvAPR
represents the interest rate received on reinvestment.
' Define money format.
Dim MoneyFmt As String = "###,##0.00"
' Define percentage format.
Dim PercentFmt As String = "#0.00"
Dim values(4) As Double
' Business start-up costs.
values(0) = -70000
' Positive cash flows reflecting income for four successive years.
values(1) = 22000
values(2) = 25000
values(3) = 28000
values(4) = 31000
' Use the MIRR function to calculate the internal return rate.
' Set the loan rate.
Dim LoanAPR As Double = 0.1
' Set the reinvestment rate.
Dim InvAPR As Double = 0.12
' Calculate internal rate.
Dim RetRate As Double = MIRR(values, LoanAPR, InvAPR)
' Display internal return rate.
MsgBox("The modified internal rate of return for these cash flows is " &
Format(Math.Abs(RetRate) * 100, CStr(PercentFmt)) & "%.")
The modified internal rate of return is the internal rate of return when payments and receipts are financed at different rates. The MIRR
function takes into account both the cost of the investment (FinanceRate
) and the interest rate received on reinvestment of cash (ReinvestRate
).
The FinanceRate
and ReinvestRate
arguments are percentages expressed as decimal values. For example, 12 percent is expressed as 0.12.
The MIRR
function uses the order of values within the array to interpret the order of payments and receipts. Be sure to enter your payment and receipt values in the correct sequence.
Termék | Verziók |
---|---|
.NET | Core 3.0, Core 3.1, 5, 6, 7, 8, 9 |
.NET Framework | 1.1, 2.0, 3.0, 3.5, 4.0, 4.5, 4.5.1, 4.5.2, 4.6, 4.6.1, 4.6.2, 4.7, 4.7.1, 4.7.2, 4.8, 4.8.1 |
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