# XNPV

XNPV(rate, values, dates)

Returns the net present value of a series of unequal cash flows at irregular intervals.

 rate The discount rate to apply to the cash flows. values A series of cash flows. dates A series of payment dates that correspond to the cash flows.

 REMARKS
 * This function assumes all payments are at the end of each period.* A negative number represents any cash you pay out.* A positive number represents any cash you receive (start with or end with).* The "rate" must be a positive number and can be thought of as the effective rate ?* All succeeding payments are discounted based on a 365-day year.* The "values" series must contain at least one positive value and one negative value.* If "values" and "dates" contain a different number of values, then #NUM! is returned.* The "dates" must all be later than the first date, but they may occur in any order.* The "dates" series are truncated to integers.* If "dates" contains any invalid date strings, then #NUM! is returned.* If "dates" contain any dates before the first date, then #NUM! is returned.* If any argument is not numeric, then #VALUE! is returned.* You can use the PV function to return the present value of a series of equal cash flows at regular intervals.* You can use the NPV function to return the net present value of a series of unequal cash flows at regular intervals.* You can use the XIRR function to return the interest rate for a series of unequal cash flows at irregular intervals (implicit reinvestment rate).* For the Microsoft documentation refer to support.microsoft.com* For the Google documentation refer to support.google.com

 A B C D 1 =XNPV(10%,{0,0,0,0,10000},{3000,3365,3730,4095,4460}) = 6830.13 -1000.00 1-Jan-00 =C1 = 36526 2 =XNPV(10%,{0,0,0,10000},{36526,36892,37257,37622}) = 7511.19 1000.00 1-Jan-01 =C2 = 36892 3 =XNPV(10%,{0,0,0,10000},{3000,3365,3730,4095}) = 7513.15 -2000.00 1-Jan-02 =C3 = 37257 4 =XNPV(0.1,{-1000,1000},C1:C2) = -91.15 1-Jan-03 =C4 = 37622 5 =XNPV(0.1,{-1000,1000},{39448,39629}) = -46.16 6 =XNPV(0.1,B1:B2,C1:C2) = -91.15 7 =XNPV(0.1,{1000,-1000},{39448,39629}) = 46.16 8 =XNPV(0.1,B1:B3,C1:C3) = -1743.61 9 =XNPV(0.1,{-1000,1000,-2000},{39448,39629,39814}) = -1863.87 10 =XNPV(0.1,{-1000,1000,-2000},{39448,39629,39449}) = -2045.64 11 =XNPV(0.1,{-1000,1000,-2000},{35796,35855,36098}) = -1863.63 12 =XNPV(10,{-10000,2750,4250,3250},{35796,35855,36098,36206}) = -7329.35 13 =XNPV(0.1,{-10000,1000},C1:C3) = #NUM! 14 =XNPV(-10,{-10000,2750,4250,3250},{35796,35855,36098,36206}) = #NUM! 15 =XNPV(0.1,{-1000,1000},{"1 Jan 2008","30 Jun 2008"}) = #VALUE!

 1 - What is the present value of receiving £10,000 in 4 years time if the discount rate is 10% (compounded annually) with payments at the end of each period.10 - The number of dates is not the same as the number of cash flows11 - The rate is a negative number12 - The dates are not entered as serial numbers