XNPV Calculates the net present value of an investment based on a specified series of potentially irregularly spaced cash flows and a discount rate.

**Sample Usage**

`XNPV(A2,B2:B25,C2:C25)`

`XNPV(0.08,{200,250,300},{DATE(2012,06,23),DATE(2013,05,12),DATE(2014,02,09)})`

*Syntax*

XNPV(discount, cashflow_amounts, cashflow_dates)

discount – The discount rate of an investment over one period.

cashflow_amounts – A range of cells containing the income or payments associated with the investment.

cashflow_dates – A range of cells with dates corresponding to the cash flows in cashflow_amounts.

**Notes**

XNPV is similar to PV except that XNPV allows variable-value cash flows and cash flow intervals.

If the days specified in cashflow_dates are at a regular interval, use NPV instead.

Each cell in cashflow_amounts should be positive if it represents income from the perspective of the owner of the investment (e.g. coupons) or negative if it represents payments (e.g. loan repayment).

XIRR under the same conditions calculates the internal rate of return for which the net present value is zero.

**See Also**

XIRR: Calculates the internal rate of return of an investment based on a specified series of potentially irregularly spaced cash flows.

PV: Calculates the present value of an annuity investment based on constant-amount periodic payments and a constant interest rate.

NPV: Calculates the net present value of an investment based on a series of periodic cash flows and a discount rate.

MIRR: Calculates the modified internal rate of return on an investment based on a series of periodic cash flows and the difference between the interest rate paid on financing versus the return received on reinvested income.

IRR: Calculates the internal rate of return on an investment based on a series of periodic cash flows.

Examples