Microsoft KB Archive/101245

= FIX: Ref to NPV / IRR / MIRR Gives Undefined Functions Error =

Article ID: 101245

Article Last Modified on 1/8/2003

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APPLIES TO


 * Microsoft Visual Basic 3.0 Professional Edition

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This article was previously published under Q101245



SYMPTOMS
If you try to run an application that contains a reference to the NPV, IRR, or MIRR financial function, Visual Basic for Windows generates this error:

Reference to undefined Function or Array



CAUSE
Visual Basic does not recognized these as Visual Basic functions because they were incorrectly referenced in the financial DLL file (MSAFINX.DLL) that ships with Visual Basic version 3.0.



WORKAROUND
To workaround the problem, declare the NPVC, IRRC, and MIRRC functions located in MSAFINX.DLL and alias them as NPV, IRR, and MIRR respectively. The code provided in the More Information section below demonstrates how to declare and call these functions.



STATUS
Microsoft has confirmed this to be a bug in the Microsoft products listed at the beginning of this article. This problem has been corrected in Visual Basic version 4.0.



MORE INFORMATION
The following example shows how to use the NPV function. It is based on the example shown in the Visual Basic Help menu, but it also includes the declarations for the NPV, IRR, and MIRR financial functions. Without the declarations for these functions, the example will fail, giving a "Reference to undefined Function or Array" error.

Steps to Work Around the Problem
 Start Visual Basic or from the File menu, choose New Project (ALT, F, N) if Visual Basic is already running. Form1 is created by default.  Add the following code to the General section of Form1: ' Enter each Declare statement on one, single line: Declare Function MIRRC Lib "MSAFINx.DLL" (values#, ByVal cvalues%,     ByVal finance#, ByVal reinvest#) As Double Declare Function NPVC Lib "MSAFINx.DLL" (ByVal Rate1#, values#,     ByVal cvalues%) As Double Declare Function IRRC Lib "MSAFINx.DLL" (values#, ByVal cvalues%,     ByVal Guess#) As Double

Function IRR (values As Double, ByVal Guess As Double) As Double

On Error GoTo IrrErr iArgMin% = LBound(values) cArg% = UBound(values) - iArgMin% IRR = IRRC#(values(iArgMin%), cArg%, Guess) Exit Function IrrErr: MsgBox (Str$(Err)) Exit Function

End Function

' Enter the following Function statement on one, single line: Function MIRR (values As Double, ByVal finance As Double,     ByVal reinvest As Double) As Double

On Error GoTo MirrErr iArgMin% = LBound(values) cArg% = UBound(values) - iArgMin% MIRR = MIRRC#(values(iArgMin%), cArg%, finance, reinvest) Exit Function MirrErr: MsgBox (Str$(Err)) Exit Function

End Function

Function NPV (ByVal Rate1 As Double, values As Double) As Double

On Error GoTo NpvErr iArgMin% = LBound(values) cArg% = UBound(values) - iArgMin% NPV = NPVC#(Rate1, values(iArgMin%), cArg%) Exit Function NpvErr: MsgBox (Str$(Err)) Exit Function

End Function   Add the following code to your program in the Form_Click event: Sub Form_Click Static Values(5) As Double ' Set up array. Fmt = "###,##0.00" ' Define money format. Guess = .1 ' Guess starts at 10%. RetRate = .0625 ' Set fixed internal rate. Values(0) = -70000 ' Business start-up costs. ' Positive cash flows reflecting income for four successive years. Values(1) = 22000: Values(2) = 25000 Values(3) = 28000: Values(4) = 31000 NetPVal = NPV(RetRate, Values)   ' Calculate net present value. Msg = "The net present value of these cash flows is " Msg = Msg & Format(NetPVal, Fmt) & "." MsgBox Msg ' Display net present value. End Sub  From the Run menu, choose start (ALT, R, S) or press the F5 key to run the program. You will see a message box that contains the correct Net Present Value result of 19,312.57.

Additional query words: buglist3.00 3.00 errmsg fixlist4.00

Keywords: kbbug kbfix KB101245

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