# 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.

**XNPV** is part of the set of financial functions that Sigma supports.

## Syntax

XNPV(rate, values, dates)/

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

- rate
- Required
- The discount rate of the cash flows
- To use 20%, use the value 0.2.
- values
- Required
- A series of cash flows that corresponds to a schedule of payments, in dates.
- 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.
- dates
- Required
- A schedule of payment dates that corresponds to the cash flow payments.
- 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.

The general formula for the **XNPV** function is:

## 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)

## Related functions

- PV
- XNPV function in Microsoft documentation