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Financial calculators and cash flows · MIRR · Cash flow
MIRR · Cash flow. MIRR discounts outflows at rate I and grows inflows at the reinvestment rate RI, so it gives one answer even when IRR has several.
MIRR · Cash flow
Mathematical examples based on your inputs; taxes, fees and market forecasts are not included.
Results are for study and planning. Check decisions about real money with a qualified professional.
Your calculation
- MIRR (%)
- 9.8156692446
How the calculation works
MIRR discounts outflows at rate I and grows inflows at the reinvestment rate RI, so it gives one answer even when IRR has several.
A worked example
- Cash flow
- -1,000 · 300 · 400 · 500
- Discount rate per period (%)
- 10
- Reinvestment rate per period (%)
- 12
Step by step
- Period 0: -1,000 ÷ (1 + 10 %)^0 = -1,000
- Period 1: 300 × (1 + 12 %)^2 = 376.32
- Period 2: 400 × (1 + 12 %)^1 = 448
- Period 3: 500 × (1 + 12 %)^0 = 500
- MIRR (%) = (1,324.32 ÷ 1,000)^(1 ÷ 3) − 1 = 9.816 %
The finance rate applies to the negative flows and the reinvestment rate to the positive ones. Both are per period, like the flows.
If one input changes
- Reinvestment rate per period (%) = 8: MIRR (%) = 8.63
- Reinvestment rate per period (%) = 10: MIRR (%) = 9.22
- Reinvestment rate per period (%) = 14: MIRR (%) = 10.41
- Reinvestment rate per period (%) = 16: MIRR (%) = 11
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