RRI function
RRI function has been introduced with Excel 2013. It returns the interest rate for the growth of an given investment based on it's present value and future value for a given period.
For example, to know what would be the interest rate for an intitial investment of Rs.1000 to become double i.e, Rs.2000 in 5 years, we can use RRI formula as
= RR(5,1000,2000)
= 14.87%
Syntax:-
=RRI(nper, pv, fv)
where
nper is the number of periods for the investment
Pv is the present value of the investment
Fv is the future value of the investment
Note:- If you enter any non-numbers in above arguments, you'll get #VALUE! error.
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