MIRR Function [VBA]

Calculates the modified internal rate of return of a series of investments.


This constant, function or object is enabled with the statement Option VBASupport 1 placed before the executable program code in a module.


MIRR(Values() as Double, Investment as Double, ReinvestRate as Double)

Return value:



Values(): An array of cash flows, representing a series of payments and income, where negative values are treated as payments and positive values are treated as income. This array must contain at least one negative and at least one positive value.

Investment: is the rate of interest of the investments (the negative values of the array).

ReinvestRate: the rate of interest of the reinvestment (the positive values of the array).

Error codes:

5 Invalid procedure call


REM ***** BASIC *****
Option VBASupport 1
Sub ExampleMIRR
 Dim cashFlow(0 to 3) As Double
 cashFlow(0) = -5
 cashFlow(1) = 10
 cashFlow(2) = 15
 cashFlow(3) = 8
 mirrValue = MIRR(cashFlow,0.5,0.1) * 100
 Print mirrValue ' returns 94.16. The modified internal rate of return of the cash flow.
End Sub

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