Excel RRI Function

Description

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

Syntax and arguments

Formula syntax

RRI(nper, pv, fv)

Arguments

 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.

Errors

#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.

Remarks

RRI function is calculated by follow equation:

Version

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.

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.

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.

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

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