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How do I change the IRR formula for MONTHLY periodic payments?
The IRR formula is set up for annual payments. How can it be changed to
account for monthly payments? I know the NPV formula will work if you divide the discount rate bay 12 for monthly payments. Do I multiply the solution by 12? I tried this and the result did not look correct. I do not want to use the XIRR formula for this because it will be a template. Thank you |
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