Yes, XNPV uses the proper number of days in a year (365 or 366). Why wouldn't
it? Obviously, there would be a difference using 360 day years.

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Regards,
Fred
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"David" wrote in message
...
The XNPV function gives different answers (off by about 0.04%) than when
calculating NPV on an annual basis using a 360 day year. Without using XNPV,
if I take the number of years between the time periods using "=days360(start
date,end date)/360", the solving for PV, I get a slightly different answer
than with the xnpv function. Do you know what the difference is? Thanks.
David Pardue