RRI function

This article describes the formula syntax and usage of the RRI function (function: A prewritten formula that takes a value or values, performs an operation, and returns a value or values. Use functions to simplify and shorten formulas on a worksheet, especially those that perform lengthy or complex calculations.) in Microsoft Excel.


Returns an equivalent interest rate for the growth of an investment.


RRI(nper, pv, fv)

The RRI function syntax has the following arguments.

  • Nper    Required. Nper is the number of periods for the investment.
  • Pv    Required. Pv is the present value of the investment.
  • Fv    Required. Fv is the future value of the investment.

RRI returns the interest rate given nper (the number of periods), pv (present value), and fv (future value), calculated by using the following equation:

RRI equation


  • If argument values are not valid, RRI returns the #NUM! error value.
  • If arguments are not using valid data types, RRI returns the #VALUE! error value.


The workbook below shows examples of this function. Inspect them, change existing formulas, or enter your own formulas to learn how the function works.

To work more in-depth with the example data in Excel, download the embedded workbook to your computer, and then open it in Excel.

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Applies to:
Excel 2013, Excel Online