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# IRR function

Does anyone now how to use the IRR function in SAS?

Here's an example of a cash flow that I used:
Month1: \$-3,000
Month2: \$600
Month3: \$1,200
Month4: \$600
Month5: \$700

In excel I use the IRR function (=IRR(-3000,600,1200,600,700,.01)) and get a monthly IRR of 1.35%.

In SAS I use the IRR function (monthly_irr=IRR(5,-3000,600,1200,600,700)) and get a monthly IRR of 6.93. INTRR gives .0693.

Does anyone know how to use the SAS IRR function to get 1.35%? In support.sas it says that IRR should be written IRR(frequency,cash1,cash2,...,cashn).

Thanks for the help!!!
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## Re: IRR function

are you expecting the IRR per period or per year?
A first order approximation indicates (SAS Result)/frequency approx= (excel result)

I guess you might need to check on the excel doc, too

PeteC
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## Re: IRR function

Hi Pete,

Thanks for the help. My periods are months so I'm looking for it by period and annualy. I thought that the function did it by period as it asks for frequency and then i used this calculation to change it to annual.

annual_irr=((monthly_irr+1)**12)-1;

Thanks again for the help!
Laura
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