Excel 2013+
Financial
The Excel RRI function returns the equivalent constant interest rate for the growth of an investment (the compound annual growth rate).
Quick answer:
=RRI(5, 10000, 15000) // about 8.45% per year
Syntax
=RRI(nper, pv, fv)
| Argument | Description | |
|---|---|---|
nper | Required | Number of periods. |
pv | Required | Present (starting) value. |
fv | Required | Future (ending) value. |
How to use it
RRI returns the equivalent constant interest rate for the growth of an investment (the compound annual growth rate).
=RRI(5, 10000, 15000) // CAGR over 5 periods
Try it: interactive demo
Live demo
This is the formula pattern RRI uses — copy it into Excel with your own numbers.
Result: computed in Excel
Practice workbook
Download the free RRI practice workbook
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Frequently asked questions
Is RRI the same as CAGR?
Yes — for annual periods, RRI gives the compound annual growth rate between a start and end value.
RRI vs RATE?
RRI is for a single lump-sum growth (no payments); RATE handles payment streams.
Which Excel versions support it?
Excel 2007 and later.
Why might it return #NUM! or #VALUE!?
Out-of-range arguments (e.g. negative rate or settlement after maturity) give #NUM!; non-numeric inputs give #VALUE!.
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