Wow, I can’t believe Microsoft would ship a product like this. Beware, Excel 2008 won’t recalc XIRR correctly and in fact any sheet that has an intentional reference where loan amounts have fees that are dependent. This has worked in versions of Excel for the last 20 years. So sad, it means that Excel 2008 is useless so beware. Can’t see any information on when/if this is going to get fixed. In the mean time, if have sheets that do loan calculations of any sort, beware, you need to use Mac Excel 2004 or any version of PC Excel. Very sad statement about software quality IMHO.
Well, in fact the problem seems to be in Excel 2008’s inability to calculate
formulae that intentionally include circular references (such as to calculate
the interest on a loan where the loan amount is determined by reference to
the total cash deficit, including the interest). These formulae return the
#VALUE! error in Excel 2008 whereas they calculate as normal in Excel 2007.