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# Financial.MIRR Method

.NET Framework 4.5

Returns a Double specifying the modified internal rate of return for a series of periodic cash flows (payments and receipts).

Namespace:  Microsoft.VisualBasic
Assembly:  Microsoft.VisualBasic (in Microsoft.VisualBasic.dll)
```public static double MIRR(
ref double[] ValueArray,
double FinanceRate,
double ReinvestRate
)
```

#### Parameters

ValueArray
Type: System.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
Type: System.Double

Required. Double specifying interest rate paid as the cost of financing.

ReinvestRate
Type: System.Double

Required. Double specifying interest rate received on gains from cash reinvestment.

#### Return Value

Type: System.Double
Returns a Double specifying the modified internal rate of return for a series of periodic cash flows (payments and receipts).
ExceptionCondition
ArgumentException

Rank of ValueArray does not equal 1, FinanceRate = -1, or ReinvestRate = -1

DivideByZeroException

Division by zero has occurred.

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 ReinvestRatearguments 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.

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
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)) & "%.")
```

#### .NET Framework

Supported in: 4.5, 4, 3.5, 3.0, 2.0, 1.1, 1.0

#### .NET Framework Client Profile

Supported in: 4, 3.5 SP1

Windows 8.1, Windows Server 2012 R2, Windows 8, Windows Server 2012, Windows 7, Windows Vista SP2, Windows Server 2008 (Server Core Role not supported), Windows Server 2008 R2 (Server Core Role supported with SP1 or later; Itanium not supported)

The .NET Framework does not support all versions of every platform. For a list of the supported versions, see .NET Framework System Requirements.