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 Microsoft Excel > Functions > Financial > XNPV
 

XNPV(rate, values, dates)

 
 Returns the net present value for a schedule of cash flows that is not necessarily periodic.

 rateThe discount rate to apply to the cash flows.
 valuesThe series of cash flows that corresponds to a schedule of payments in dates.
 datesThe schedule of payment dates that corresponds to the cash flow payments.

 REMARKS
 
  		• This function is only available if you have the Analysis ToolPak add-in installed.
     
  		• To calculate the net present value for a series of cash flows that is periodic, use the NPV() function.
     
  		• The "rate" must be a positive number.
     
  		• The first payment is optional and corresponds to a cost or payment that occurs at the beginning of the investment.
     
  		• If the first value is a cost or payment, it must be a negative value. All succeeding payments are discounted based on a 365-day year.
     
  		• The series of values must contain at least one positive value and one negative value.
     
  		• The first payment date indicates the beginning of the schedule of payments. All other dates must be later than this date, but they may occur in any order.
     
  		• All the numbers in "dates" are truncated to integers.
     
  		• If any argument is nonnumeric, then #VALUE! is returned.
     
  		• If "values" and "dates" contain a different number of values, then #NUM! is returned.
     
  		• If any number in "dates" is not a valid date, then #NUM! is returned.
     
  		• If any number in "dates" precedes the starting date, then #NUM! is returned.

     EXAMPLES
     
     AB
    1=XNPV(0.1,{-1000,2000,3000},B1:B3) = 3984.361/1/2005
    2=XNPV(0.1,{-1000,2000,3000},{38353,38362,38367}) = 3984.361/10/2005
    3=XNPV(0.09,{-10000,2750,4250,3250},{35796,35855,36098,36206}) = -380.391/15/2005
    4=XNPV(30,{-10000,2750,4250,3250},{35796,35855,36098,36206}) = -8104.79 
    5=XNPV(-30,{-10000,2750,4250,3250},{35796,35855,36098,36206}) = #NUM! 
    6=XNPV(0.09,{-10000,2750},{35796,35855,36098}) = #NUM! 
    7=XNPV(0.1,{-1000,2000,3000},{"01/01/2005","02/01/2005","20/01/2005"}) = #VALUE! 
    		 
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