# XNPV

The **XNPV** function returns the net present value of an investment for payments or incomes at irregular intervals.

Use **XNPV** when you discount non-periodic cash flows.

### Syntax

```
XNPV(rate, values, dates)
```

The **XNPV** function syntax has the following arguments:

<table><thead><tr><th width="258"></th><th></th></tr></thead><tbody><tr><td>rate</td><td>Required
<br>The discount rate of the cash flows
<br>To use 20%, use the value 0.2.</td></tr><tr><td>values</td><td>Required
<br>A series of cash flows that corresponds to a schedule of payments, in dates.
<br>The first payment is optional and corresponds to a cost or payment that occurs at the beginning of the investment. If the first value is a cost or payment, it must be a negative value. The function discounts the succeeding payments based on a 365-day year. The series of values must contain at least one positive value and one negative value.</td></tr><tr><td>dates</td><td>Required
<br>A schedule of payment dates that corresponds to the cash flow payments.
<br>The first payment date is the beginning of the schedule of payments. All other dates must be later than this date, but they may occur in any order.</td></tr></tbody></table>

The general formula for the **XNPV** function is:\
![XNPV function](https://files.readme.io/cb8347f-function-xnpv.png)

### Example

```
XNPV(.20, [Values], [Dates])
```

Calculates the net present value of cash flows of Values made on corresponding Dates, with a discount rate of 20%.

For the following list of values and dates, the XNPV would be $18,392.

Values      (-6380, 9680, -1000, -9680, 1000, 2340, 1000, -2500, 5200, 2300, 4400, 5060, 5760, 6360)

Dates        (03/28/2021, 07/28/2021, 08/27/2021, 08/29/2021, 09/28/2021, 09/30/2021, 10/19/2021, 11/01/2021, 12/03/2021, 01/02/2022, 02/02/2022, 03/02/2022, 04/01/2022, 04/31/2022)