I am calculating the net present value of annual payments over a 20 year
term. The payment is received in the middle of each year. Because the
payments are periodic does it matter which function I use (NPV or XNPV)?

I have run both NPV and XNPV functions and get the same result. I am trying
to confirm. My date value range is (A2013:A2033) for the XNPV function is as
follows:

cell formula
A2013 =06/15/2005
A2014 =A2013 + 365
A2015 =A2014 + 365
A2016 =A2015 + 365
A2017 =A2016 + 365
A2018 =A2017 + 365
A2019 =A2018 + 365
A2020 =A2019 + 365
A2021 =A2020 + 365
A2022 =A2021 + 365
A2023 =A2022 + 365
A2024 =A2023 + 365
A2025 =A2024 + 365
A2026 =A2025 + 365
A2027 =A2026 + 365
A2028 =A2027 + 365
A2029 =A2028 + 365
A2030 =A2029 + 365
A2031 =A2030 + 365
A2032 =A2031 + 365
A2033 =A2032 + 365

Any help will be appreciated.
--
Robert Engle
Brinker International, Inc.