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#Financial

XNPV

Excel Functions

Calculate net present value for irregular cash flows

Syntax

EXCEL
=XNPV(rate, values, dates)

Arguments

Parameter Description
rate Discount rate to apply to the cash flows.
values Values representing cash flows.
dates Dates that correspond to cash flows, in any order.

Return Value

Net present value

Details

The XNPV function returns the net present value (NPV) of an investment based on a discount rate and a series of cash flows that occur at irregular intervals. Values represent cash flows and be correspond to dates. Negative values represent cash paid out; positive values represent cash received. The first date indicates the beginning of the schedule of payments and must be the earliest date. Subsequent dates may occur in any order. The XNPV function takes three arguments: rate, values, and dates. Rate represents the discount rate to apply to the cash flows. Enter rate as a percentage like 6% or the decimal value 0.06. Values represent a series of cash flows that correspond to dates. The first value is optional and corresponds to a cost at the beginning of the investment. If the first value

Examples

Example

In the example shown, the formula in F6 is:

EXCEL
=XNPV(F4,B5:B10,C5:C10) // returns 177.6532

See Also

PV IRR XIRR