Off Topic: Excel Error with the XIRR function

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  Did I run into an error of Excel?

   

  Here is a simple example with Excel 2003.

   

  I have a cash flow as below:

  Column B    Column C    Column D

  Row 1 12/31/2007  12/31/2008  12/31/2009.

  Row 2    -100             60                55

   

  The discount rate of this cash flow can be calculated with IRR function, IRR(B22) is 10%.

  As I use the XIRR function, the result is different. XIRR(B22, B11) is 9.98%.

   

  Obviously the XIRR function returns a wrong result.

  Monday, September 22, 2008 6:38 PM