Casio 3.04 SNFV, SIRR, S NPV, S PBP

15-4-4

Cash Flow

Calculation Formulas

S NPV
	CF1	CF2		CF3	....		CFn
NPV = CF0 +	(1+ i ) +	(1+ i )2 +	(1+ i )3 +			+	(1+ i )n

n: natural number up to 79

SNFV

NFV = NPV ⋅ (1 + i )n

SIRR

IRR is calculated using Newton’s Method.

	CF1	CF2	CF3	....			CFn
0 = CF0 +	(1+ i ) +	(1+ i )2 +	(1+ i )3 +		+	(1+ i )n

I %

i =

100

In this formula, NPV = 0, and the value of IRR is equivalent to i σσ100. It should be noted, however, that minute fractional values tend to accumulate during the subsequent calculations performed automatically by the calculator, so NPV never actually reaches exactly zero. IRR becomes more accurate the closer that NPV approaches to zero.

S PBP

	{	0 ..................................		(CF0 > 0)
PBP =		n –	NPVn	... (Other than those above)
			NPVn+1 – NPVn

nCFk

NPVn =

k = 0 (1 + i)k

n: Smallest positive integer that satisfies the conditions NPVn 0, NPVn+1 0, or 0.

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