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# FileMaker Pro Custom Functions

IRR ( cashFlowsList ; guessRate )

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Lewis C. Lorenz, Lorenz Companies
http://www.LorenzCom.com/software

Calculate Internal Rate of Return of a value list of cash flows with an initial guessed rate-of-return, using the Newton-Raphson method.

Sample Input:
 IRR ( "-500000¶200000¶300000¶200000", .1 ) IRR ( List ( -2000, 600, 300, 500, 700, 400 ), .05 ) IRR ( List ( -5000, 10000, 0, 10000, 10000 ), .1 )
Sample Output:
 .1882462096837047 .0793216878811758 1.4633789720926647

Then copy & paste into FileMaker Advanced's Edit Custom Function window.

## Description:

IRR ( cashFlowsList, guessRate )

Created: 4-5-2013
Modified: 1-3-2014
Author: Lewis C. Lorenz

Calculate Internal Rate of Return of a value list of cash flows (cashFlowsList) using an initial guessed rate of return (guessRate). The parameter guessRate defaults to .0001 if initially blank.

This function uses the Newton-Raphson method for speed and calculates to a modifiable decimal precision - presently set at 1.0e-7. The C source code from which this custom function was derived is included in the comments.

Examples:
IRR ( "-500000¶200000¶300000¶200000", .1 ) = .1882462096837047
IRR ( List ( -2000, 600, 300, 500, 700, 400 ), .05 ) = .0793216878811758
IRR ( List ( -5000, 10000, 0, 10000, 10000 ), .1 ) = 1.4633789720926647

DISCLAIMER: Using this IRR function, several calculations were compared against the results obtained on other IRR calculators and the results matched. However, that does not guarantee a correct result in every operation of this custom function, so you assume this risk when you use it.

NOTICE: This is a recursive function. If you change the function name then also change it in the function code.

Note: these functions are not guaranteed or supported by BrianDunning.com. Please contact the individual developer with any questions or problems.

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