Microsoft Office Tutorials and References
In Depth Information
APPENDIX 1 - ALPHABETICAL FUNCTION REFERENCE
NPV(rate,value1,value2, ...) [Category: Financial]
Calculates the net present value of an investment by using a discount rate and
a series of future payments (negative values) and income (positive values).
Guru Tip: Unlike PV, the payments don’t have to be identical with NPV. In the
image below, you buy a business for \$450,000 as represented by cell B4. Future
annual cash ﬂ ows are shown in B5:B9. In the opinion of many, Excel doesn’t
calculate NPV correctly. Rather than including the cost of the business, run NPV
using the discount rate shown in B3 and then the cash ﬂ ows in B5:B9. Excel
will report that the NPV is 716,329 which is not exactly right. To get what most
people would call Net Present Value, you have to add in the initial cash outlay.
Adding negative 450,000 to 716329 gives you the true Net Present Value of
266,329. The discount rate is the cost of capital. Think of it as the interest rate
you could get with that money if you did not invest it in this business.
OCT2BIN(number,places) [Category: Engineering]*
Converts an octal number to binary.
OCT2DEC(number) [Category: Engineering]*
Converts an octal number to decimal.
OCT2HEX(number,places) [Category: Engineering]
Converts an octal number to hexadecimal.
ODD(number) [Category: Math]
Returns number rounded up to the nearest odd integer.
ODDFPRICE(settlement,maturity,issue,ﬁ rst_coupon,rate,yld,redemption,f
requency,basis) [Category: Financial]*
Returns the price per \$100 face value of a security having an odd (short or long)
ﬁ rst period.
ODDFYIELD(settlement,maturity,issue,ﬁ rst_coupon,rate,pr,redemption,fr
equency,basis) [Category: Financial]*
Returns the yield of a security that has an odd (short or long) ﬁ rst period.
ODDLPRICE(settlement,maturity,last_interest,rate,yld,redemption,freque
ncy,basis) [Category: Financial]*
Returns the price per \$100 face value of a security having an odd (short or long)
last coupon period.
ODDLYIELD(settlement,maturity,last_interest,rate,pr,redemption,frequen
cy,basis) [Category: Financial]*
Returns the yield of a security that has an odd (short or long) last period.

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