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- (1) Summary. Change “investments” to “cash flows”.
- (2) Returns. Change “Return” to “Returns”. Delete “non-negative”. Insert “decimal” before “fraction”. Change “a series of investments” to “the series of cash flows”. Default is to format as a percentage.
- (3) Arguments, Values. Change “payments” to “cash flows”.
- (4) Arguments, Investment. Change “investments (the negative values of the array)” to payments (negative values). Add full stop at end of sentence. Can be entered as a percentage or a decimal fraction.
- (5) Arguments, Reinvest Rate. Change “the positive values of the array” to just “positive values”. Add full stop at end of sentence. Can be entered as a percentage or a decimal fraction.
- (6) Arguments, general. We need to define the constraints on the values. At least one of the cash flows must be negative and at least one positive. The order of the cash flows is significant; make sure that you arrange them in the correct sequence.
- (7) Additional details. Include a link to Wikipedia’s page entitled “Modified internal rate of return”.
- (8) Examples, all examples. All formulas refer to A1:A16 – presumably, this should be A1:A6? Also, are we being inconsistent by not having an error example? Change “investments” to “cash flows”. Change “mentioned in A1 to A6” to “entered in cells A1 to A6”. Is there any reason why we have not provided commentary of the rate values?