# XNPV

Returns the present value for a schedule of cash flows that is not necessarily periodic.

## Syntax

XNPV(<table>, <values>, <dates>, <rate>)


### Parameters

Term Definition
table A table for which the values and dates expressions should be calculated.
values An expression that returns the cash flow value for each row of the table.
dates An expression that returns the cash flow date for each row of the table.
rate The discount rate to apply to the cash flow for each row of the table.

## Return value

Net present value.

## Remarks

• The value is calculated as the following summation:

$$\sum^{N}_{j=1} \frac{P_{j}}{(1 + \text{rate})^{\frac{d_{j} - d_{1}}{365}}}$$

Where:

• $P_{j}$ is the $j^{th}$ payment
• $d_{j}$ is the $j^{th}$ payment date
• $d_{1}$ is the first payment date
• The series of cash flow values must contain at least one positive number and one negative number.

• This function is not supported for use in DirectQuery mode when used in calculated columns or row-level security (RLS) rules.

## Example

The following calculates the present value of the CashFlows table:

= XNPV( CashFlows, [Payment], [Date], 0.09 )

Date Payment
1/1/2014 -10000
3/1/2014 2750
10/30/2014 4250
2/15/2015 3250
4/1/2015 2750

Present value = 2086.65