Excel 365
· 11 min read
Why Your NPV Is Wrong (and the XNPV Fix Analysts Swear By)
Excel's NPV function quietly assumes your first cash flow lands one full period in the future, so it discounts the whole project by an extra period and hands you a number that is 9% light. Here's the classic fix, the XNPV/XIRR way for real dates, and a free workbook that reproduces every answer from first principles.
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