HP 12C User Manual page 193

Example: An investor has the following unconventional investment opportunity.
The cash flows are:
Calculate the MIRR using a safe rate of 6% and a reinvestment (risk) rate of 10%.
Keystrokes
(RPN mode)
f]
fCLEARH
0gJ
100000gK
5ga
0gK5ga
0gK9ga
200000gK
10gCfl 10gCfl
Þ$
20nM
180000Þg
J0gK5g
a100000Þ
gK5ga6
gCfl
20n¼
12§
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
Section 13: Investment Analysis
Group # of Months
0 1
1 5
2 5
3 9
4 1
Keystrokes
Display
(ALG mode)
f[
fCLEARH
0.00
0.00
0gJ
100,000.00
100000gK
5.00
5ga
5.00
0gK5ga
9.00
0gK9ga
200,000.00
200000gK
657,152.37
Þ$
-657,152.37
775,797.83
20nM
180000Þg
J0gK5g
a100000Þ
gK5ga
-660,454.55
6gCfl
0.81
20n¼
9.70
§12³
Page: 193 of 275
Dimension: 14.8 cm x 21 cm
193
Cash Flow ($)
–180,000
100,000
–100,000
0
200,000
First cash flow.
Second through sixth
cash flows.
Next five cash flows.
Next nine cash flows.
Last cash flow.
NPV of positive cash
flows.
NFV of positive cash
flows.
NPV of negative cash
flows.
Monthly MIRR
Annual MIRR.