Excel RRI Function
If you want to follow along with this tutorial, please download the example spreadsheet.
Description
The RRI function returns the equivalent interest rate for the growth of an investment.
Syntax and arguments
Formula syntax
Arguments
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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.
-
Excel RATE Function
The RATE returns the interest rate per period of an annuity.
-
Excel RECEIVED Function
The RECEIVED function returns the amount received at maturity for a fully invested security.
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