When to use this calculator
Estimate modified internal rate of return with separate finance and reinvestment rates. Requires both negative and positive cash flows; the first flow is at time zero.
Explore the investment return calculators for other questions in this topic. For a related calculation, use the NPV Calculator: Find net present value of evenly spaced cash flows, including an initial time-zero amount.
PUTTING IT INTO PRACTICE
MIRR: a worked example
The values below are an illustrative example, not a recommendation. Replace them with measurements or assumptions that match your question.
| Input | Example value |
|---|---|
| Equally spaced cash flows | -1000,0,1210 |
| Finance rate per period (%) | 10 |
| Reinvestment rate per period (%) | 10 |
| Result | 10 % per period |
- Check the input labels and enter the example values above.
- Apply the relationship: MIRR = (future value of positive flows/−present value of negative flows)^(1/periods)−1..
- The result is 10 % per period, rounded for display.
How to interpret your result
Requires both negative and positive cash flows; the first flow is at time zero.
Return measures must cover the same time period before comparison. CAGR annualises two endpoint values but does not model interim cash flows. Current income yield differs from total return or yield to maturity.
Frequently asked questions
Can CAGR handle money added during the period?
The simple endpoint CAGR model does not account for intermediate deposits and withdrawals. Those require cash-flow-aware methods.
When is the mirr calculator useful?
Estimate modified internal rate of return with separate finance and reinvestment rates. Requires both negative and positive cash flows; the first flow is at time zero.
How do I use the mirr calculator?
Enter equally spaced cash flows, finance rate per period (%), reinvestment rate per period (%). The result updates automatically. Use the units shown beside each input; the example values illustrate the method.
Which formula does this calculator use?
MIRR = (future value of positive flows/−present value of negative flows)^(1/periods)−1..
What should I check before using the result?
Requires both negative and positive cash flows; the first flow is at time zero.
How are results rounded?
Scalar numbers display up to six decimal places, with scientific notation for very large or small values. Text, fraction, date and schedule outputs use the format described on the tool. Intermediate calculations use JavaScript floating-point arithmetic. Keep sensible precision for your measurements.
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