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Excel RRI Function

Author: Sun Last Modified: 2022-03-03

doc workday.intl function 1

If you want to follow along with this tutorial, please download the example spreadsheet.
doc workday.intl function 1


The RRI function returns the equivalent interest rate for the growth of an investment.

Syntax and arguments

Formula syntax

RRI(nper, pv, fv)


  • Nper: Required, the total number of periods for the investment.
  • Pv: Required, the present value of the investment.
  • Fv: Required, the future value of the investment.

Return Value

The RRI function returns a numeric value. You can format the result to a percentage format.


#NUM! error value occurs when any one of arguments is an invalid value:

  • Argument nper <= 0
  • Either of argument pv and fv <= 0

#VALUE! error value occurs when any one of arguments is not a numeric value, such as argument nper is a text.


RRI function is calculated by follow equation:
doc workday.intl function 1


Excel 2013 or later

Usage and Examples

Example: basic usage

In table B3:C5, listing the number of periods, present of value and the future value of an investment, to calculate its equivalent interest rate, please use formula as this:

=RRI(C3,C4,C5) //Or you can directly use data in the formula as this =RRI(10,30000,40000)

Press Enter key to get result.
doc workday.intl function 1

If the result is not be displayed as percentage, please select the result and click Home tab and go to click % in the Number group.
doc workday.intl function 1

Relative Functions:

  • Excel PRICEMAT Function
    The PRICEMAT function returns the price per $100 face value of a security that pays interests at maturity.

  • Excel PV Function
    The PV function returns the present value of a loan or an investment based on a constant interest rate.

  • Excel RECEIVED Function
    The RECEIVED function returns the amount received at maturity for a fully invested security.

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