Understanding the IRR function in Excel It can calculate the return on your SIP investments with ease By Anand Kalyanaraman ...

The IRR function in Excel can be used in the case of bonds. However, the rate function can be used for computing the IRR on the coupon date of a bond.

This would be the reinvestment rate, and the modified IRR spreadsheet function, or MIRR, would calculate a cash flow IRR using that rate as cash flows are deposited in the bank.