# 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.

## Description

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

## Syntax

`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:

## Remarks

• 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.

## Example

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.

Applies to:
Excel 2013, Excel Online