)You didn't indcate what formula you used that generated the 46.82%.
To calculate a CAGR, I would take ((end_value/start_value ^ (1 / #_periods))
- 1. In this case ((11667/8580)^(1/3))-1 = 10.7875%


"Dick in SL" wrote:

Using Excel 2003. I am getting results that does not seem correct. I am
entering the beginning fund balance with a negative sign in cell A2 and the
increase in fund values each year in cells A3 to A5. Dates are all 12/31/xx
using DATE in cells B2 to B5.

Values are -8580, 2004, 619, 464 and the result is 46.82%

Using CAGR calculation in Investopedia.com I get 10.78%

What am I doing wrong in ExceL?

Thanks