Modified Internal Rate of Return Calculator
Calculate a cash-flow return with separately entered financing and reinvestment rates, allowing multiple sign changes.
YOUR CALCULATION
Result
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Calculation steps
Work through one step at a time or reveal the complete calculation. The steps use your current inputs.
How to calculate
Discount negative cash flows to period zero at the financing rate and compound positive cash flows to the final period at the reinvestment rate.
MIRR=(FV of positive flows / absolute PV of negative flows)^(1/number of intervals)−1
Worked example
Cash flows −100, 0, +121 have MIRR 10% per period with zero financing/reinvestment rates. Cash flows with later negative contributions are also supported.
Assumptions and input details
2–101 equally spaced period entries, including time zero, with at least one negative and one positive amount. Rates are per entered period, not automatically annual. MIRR depends on the chosen financing/reinvestment assumptions and differs from the unique-root IRR calculator. It is not a project ranking guarantee. All results are before tax unless the entered cash flows already include it. No national rules, investment recommendations or actual market forecasts are supplied. No live market data or national tax rules are inferred. Enter consistent amounts in one currency unless explicitly stated otherwise.
References: OpenStax: modified return method
Using this calculator
Can I enter my own problem?
Yes. Replace the example values with your own inputs. The result, calculation steps, tables and applicable diagrams update from those inputs. Blank or invalid values clear the result; example values are never silently substituted for missing inputs.
Are the results exact?
Results use floating-point arithmetic and displayed rounding. Read the formula, assumptions and any stated data precision before interpreting the result.
Is my input uploaded?
The calculation runs in your browser. No account, file upload or external AI service is required. Inputs are not saved between page reloads.
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