IRR Calculation to more decimal places

Question

Hello,

I am trying to calculate IRR with summarize function, but I have only to 6 decimal places:

I also tried to change type from Double to Fixed decimals and set it to 10 decimal places, but only 0 shows me in the rest of the digits:

Is there some other way how I can calculate IRR on more then 6 decimal places?

Thanks

Cashflow.xlsx

Example.yxmd

IraWatt · Answer

Hey @wonka1234,

Another way to calculate IRR is using the Gallery IRR tool. The IRR Tool has a higher precision than the Summarize tool Gallery: Financial IRR Tool - Alteryx Community

wonka1234 · Answer

any update to this? Also finding rounding to 6 decimal places only.

danilang · Answer

Hi @MrFox

From a quick search of the community, I'd have to say that the answer is no.  The generic algorithm to calculate IRR is iterative and stops when the NPV of the stream is = 0.  For some income streams the NPV will only equal 0 after 1000s of iterations.  I suspect that the algorithm that is used in the Alteryx Engine stops when the NPV = 0 or the 1st six decimals of the IRR don't change from one iteration to the next.

btw, you're not the first person to ask this.  They didn't get a satisfactory answer either.

Dan