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The MIRR formula is used to calculate the rate of return for a project taking into account the finance cost (f) of the cash used to fund the project (negative cash flows), and the rate of return (r) on cash from the project (positive cash flows) reinvested elsewhere.
The Excel IRR function is used to calculate internal rate of return for a range of cash flows in time value of money calculations, and has the syntax IRR (Values, Guess).
Care must be taken when using the Excel IRR function with cash flows that change sign multiple times though out the term of the project, as it can produce meaningless solutions.