The Excel RRI function returns an equivalent interest rate for the growth of an investment. You can use RRI to calculate Compound Annual Growth Rate (CAGR) in Excel.

**Syntax**:= RRI (nper, pv, fv)

The RRI function syntax has the following arguments:

**Nper**Required. Nper is the number of periods for the investment.**Pv**Required. Pv is the present value of the investment.-
**Fv**Required. Fv is the future value of the investment. -
RRI returns the interest rate given nper (the number of periods), pv (present value), and fv (future value), calculated by using the following equation:

**Example**: Let’s look at some Excel RRI function examples and explore how to use the RRI function as a worksheet function in Microsoft Excel:

**Syntax**: =RRI(A2,B2,C2)

**Result**:

Based on the Excel spreadsheet above, the following RRI examples would return:

**Syntax**: =RRI(A3,B3,C3)**Result**: 0.981%

**Syntax**: =RRI(A4,B4,C4)**Result**: 0.423%

**Syntax**: =RRI(A5,B5,C5)**Result**: 1.877%

**Syntax**: =RRI(A6,B6,C6)**Result**: 1.133%

**Syntax**: =RRI(A7,B7,C7)**Result**: 0.381%

**Syntax**: =RRI(A8,B8,C8)**Result**: 6.991%

**Note**:

- If nper or pv is zero, RRI returns #NUM! error.
- If any of the specified arguments is negative, RRI returns #NUM! error.
- If any of the specified arguments is not recognized as a numeric value, RRI returns #VALUE! Error.