Calc Guide

Syntax Description
IPMT(rate; period; NPER; PV;
FV; type)
Calculates the periodic amortization for an
investment with regular payments and a constant
interest rate. Rate is the periodic interest rate.
Period is the period for which the compound
interest is calculated. NPER is the total number of
periods during which annuity is paid.
Period=NPER, if compound interest for the last
period is calculated. PV is the present cash value in
sequence of payments. FV (optional) is the desired
value (future value) at the end of the periods. Type
(optional) defines whether the payment is due at the
beginning (1) or the end (0) of a period.
IRR(values; guess) Calculates the internal rate of return for an
investment. The values represent cash flow values at
regular intervals; at least one value must be negative
(payments), and at least one value must be positive
(income). Values is an array containing the values.
Guess (optional) is the estimated value. If you can
provide only a few values, you should provide an
initial guess to enable the iteration.
ISPMT(rate; period;
total_periods; invest)
Calculates the level of interest for unchanged
amortization installments. Rate sets the periodic
interest rate. Period is the number of installments
for calculation of interest. Total_periods is the total
number of installment periods. Invest is the amount
of the investment.
MDURATION(settlement;
maturity; coupon; yield;
frequency; basis)
Calculates the modified Macauley duration of a fixed
interest security in years. Settlement is the date of
purchase of the security. Maturity is the date on
which the security matures (expires). Coupon is the
annual nominal rate of interest (coupon interest
rate) Yield is the annual yield of the security.
Frequency is the number of interest payments per
year (1, 2 or 4). Basis indicates how the year is to be
calculated.
MIRR(values; investment;
reinvest_rate)
Calculates the modified internal rate of return of a
series of investments. Values corresponds to the
array or the cell reference for cells whose content
corresponds to the payments. Investment is the rate
of interest of the investments (the negative values of
the array) Reinvest_rate is the rate of interest of
the reinvestment (the positive values of the array).
NOMINAL(effective_rate;
Npery)
Calculates the yearly nominal interest rate, given the
effective rate and the number of compounding
periods per year. Effective_rate is the effective
interest rate Npery is the number of periodic
interest payments per year.
Appendix B Description of Functions 387