Ile --

In reading the documentation on 'NPV', I see that blank cells are ignored if
the argument is an array. So if you selected the yearly returns as a single
range (rather than 30 different arguments separated by commas) then the blank
cells are ignored. I'd fill the blank cells with zeroes, and I think that's
the reliable answer.

HTH

"ile" wrote:

Hi
How to calculate NPV of an investment occurring in three years (2012-2014)
and followed by savings it creates (2015-2030)? I wanted to calculate the NPV
in the beginning of year 2009. Basically my data is row 1: years 2009-2030,
row 2: investment (i.e. negative values) and row 3: savings (positive values).

The NPV function gives different results when the blank cells have zeros or
not. How the blank cells shuld be treated?

Please advise