Charles - Thanks ever so much!

The formula is exactly what I needed. I was trying to use the fv function and then manipulate the interest rate until the fv equaled the sales proceeds. This is so much better.

Gaylen




>Hi,
>
>To calculate the annualized rate of return simply use the following
>
>(((sales proceeds / cost) ^ (365/(sale date - purchase date)) ) - 1 ) * 100
>
>Note:
>You should check that (sale date - purchase date) > 365 because you should not annualize when the holding period is less than a year.