The XIRR function in Excel

[MMM]

When I try to calculate an IRR with an initial outlay of -$100 on 1/1/07 and
an final amount of $112 on 1/1/08 does the IRR come to 11.99999988% instead
of 12% even?

 

[Duke Carey]

see Chip Pearson's explanation at

http://www.cpearson.com/Excel/rounding.htm