You neglected to show the way you are calling NPV and XNPV. But I was
able to infer it from the results that you show.

It appears that you are making two mistakes.

The first is one that I mentioned in an earlier post: you are
including the initial cash flow (-380) in the NPV value list. You
should not, if you want to match the XNPV result.

Suppose 2007, 2008 etc are in B1:O1; and -380, -190 etc are in B2:O2.
You should to compute the NPV with: =B1+NPV(10%,C1:O1).

BTW, that is probably the correct NPV for you in any case. Is -380 at
the beginning of the period, or at the end? If it at the end, do you
want the NPV as of the end of the period, or as of the beginning?

(If -380 is at the end __and__ you want the NPV as of the beginning,
you will need to change your usage of XNPV.)

The second and more significant mistake is your data entry for years.
It appears that you entering literally 2007, 2008 etc; but XNPV
expects dates ("serial numbers"). If you format those cells as Date,
you will see that they are not the dates you had in mind.

Change those cells to 1/1/2007, 1/1/2008 etc. (Hint: After entering
those first two, select the two cells and drag to the right using the
box handle in the lower right corner.) If you just want to see the
year, use Format Custom and enter "yyyy" (without the quotes).

The you should compute the (X)NPV with: =XNPV(10%,B1:O1,B2:O2). Note
that you __do__ include column B in range for XNPV. This assumes that
-380 is at the beginning of the period, __or__ -380 is at the end of
the period and you want the NPV as of the end of the period. (Which
is really just two ways of saying the same thing.)

If you make both corrections, you should find that NPV returns about
430.02, whereas XNPV returns about 429.38.

That small difference is because of one of the other issue that I
mentioned previously, namely: from XNPV's point of view, the periods
are __not__ all equal in length. Leap years are 366 days, not 365
days.

Does that answer all of your questions? If not, post back.



On Oct 23, 1:15*pm, Energy wrote:
Year * *2007 * *2008 * *2009 * *2010 * *2011 * *2012 * *2013 * *2014 * *2015 * *2016 * *2017 * *2018 * *2019 * *2020

Cashflow * * * *-380 * *-190 * *-140 * *-65 * * 100 * * 130 * * 110 * * 300 * * 350 * * 350 * * 350 * * 350 * * 350 * * 350

Disc Rate * * * 10% * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
NPV * * $390.93 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
XNPV * *$1,958.43 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *



"Energy" wrote:
Hi there,

hoping someone can clarify something....

Why do you get different NPV values using NPV and XNPV, if the timeframes
are equal distance for the XNPV calculation?

I understand XNPV is for when the cashflow is not periodic??

But surely if the dates are periodic (in this case annually over 12 years)
it should give the same result as the standard NPV calculation?- Hide quoted text -

- Show quoted text -