Microsoft KB Archive/47449

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Excel: Time-Weighted Internal Rate of Return PSS ID Number: Q47449 Article last modified on 02-26-1993 PSS database name: W_eXceL

2.00 2.01 2.10 2.10c 2.10d 3.00 | 2.20 2.21 3.00


The information in this article applies to:
- Microsoft Excel for Windows, versions 2.0, 2.1, and 3.0 - Microsoft Excel for OS/2, versions 2.2 and 3.0


IRR (the built-in internal rate of return function in Excel) returns a dollar-weighted rate because IRR allows only for equal periods.

To calculate a time-weighted internal rate of return, you must create a function macro that calculates the internal rate of return for uneven periods and amounts.

The following third-party vendor sells prewritten or custom Excel macros on the retail market:

Heizer Software 1941 Oak Park Blvd., Suite 30 Pleasant Hill, CA 94523 (510) 943-7667

This product is manufactured by vendors independent of Microsoft; we make no warranty, implied or otherwise, regarding this product’s performance or reliability.

Additional reference words: 2.00 2.01 2.10 2.20 2.21 3.00

Copyright Microsoft Corporation 1993.