Major Points

Note that as with any MIRR measure, this value falls somewhere between the .039 semiannual IRR and .041 semiannual reinvestment rate. So the .040223 is a semiannual rate too of course; the corresponding annualized rate we would want to talk about as the RCY is (1.040223)2 – 1 = 8.2063%. ................
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