XNPV(rate, values, dates) 
Returns the present value for 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 365day 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 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. * In Excel 2007 the accuracy of this function was improved. * In Excel 2003 this function was only available when you had the Analysis ToolPak addin loaded. * For the Microsoft documentation refer to support.office.com 

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 flows 11  The rate is a negative number 12  The dates are not entered as serial numbers 
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