How do I program the solver to find MIRR (Modified Internal Rate of Return) ? Currently it takes me seven stages, using the cashflow application.
HP17BII How do I program solver to find MIRR(Modified Internal Rate of Return)


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11272001, 03:58 AM
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11272001, 04:35 PM
David: I have the formula for the FMRR (Financial Management RateofReturn), which is published in the pocket guide for the 19BII from Grapevine Publications http://www.readgpi.com. The formula workswithout any modificationon the 17BII (showing just how similar these machines are!). The financial books and pocket guides from this company are excellent. I recommend the Easy Course in Financial Calculations for anyone interested in this area. It has a very straightforward explanation of IRR/MIRR/FMRR. I am disassembling the FMRR algorithm right now, but it is going to take me a bit longer to reverseengineer it. Once I have that, it will be trivial to do a MIRR simplifiedversion. Email me at the above link (daytime) or at my home Email address: Maguire@AnalyticInvestments.comif you have any other questions. Otherwise I will post back here when I'm done. Bruce. p.s. The programming power of these machines never ceases to amaze me!
11282001, 09:53 PM
David (and anyone else who might be interested):
Here are two programs. The first one is a program to calculate Modified
For the MIRR program, you can enter the P/YR, the safe and risk interest rates
For the FMRR program, the $IN and $OUT calculations are for the FMRR
In the following listings, there are three symbols that I use special notations to represent.
Note #1: The cash flow which is used for the calculations must be entered
Note #2: There is a variable used for the number of periods per
Note #3: This listing is "exploded" (using my own technique for formatting)
Oh, one last thing. The bigger (FMRR) program assumes that the first cash flow
 Let me know if there are any bugs in my listing, or if you have any problems.
Enjoy, ▼
11292001, 04:56 PM
I found TWO typos in my program listing for the FMRR program. The newest article in the article section contains the fixed listing. Here are the changes:
<SNIP><SNIP><SNIP> And:
<SNIP><SNIP><SNIP> Sorry about that. There's just a lot of typing involved in listing these programs! Bruce. 