On Oct 22, 8:47*pm, Energy wrote:
Why do you get different NPV values using NPV
and XNPV, if the timeframes are equal distance
for the XNPV calculation?

It would help if you provided a specific example. What results are
you geting for NPV and for XNPV? What rate are you using for each?
What are the values and dates?

The following is a lot speculation.

1. Do you know that for XNPV, "rate" is the annual discount, but for
NPV, "rate" is the periodic discount rate?

Suppose the annual rate is 12%, and the cash flow frequency is
monthly. Ostensibly, the NPV rate would be 1% (12% / 12). But if you
want to match the XNPV methodology, the monthly discount rate is
actually RATE(12,0,-1,1+12%).

2. Do you know that XNPV discounts over the exact number of days?
This will create a small (but usually only small) difference between
XNPV and NPV.

For example, you might consider monthly cash flows on the first of
every month to be "equal distance". NPV does, too. But for XNPV,
cash flows on Jan 1, Feb 1, Mar 1, etc are not exactly equal distance.

Do either or both of these factors explain the difference you are
seeing?

If not, again, please post numerical details.