PJF wrote:
> The data is as follows:
> Principal Payments:
> Date Undiscounted
> Present Value as of 1/1/85 @ 10.5%/An.
> 1985-1986
> 1987 $4,725,000
> $3,840,399 (Per the accounting firm)

You do not need XNPV() for this. PV() will do just
fine. I cannot say why you are unable to access PV().
It is a standard Excel function, not an add-in.

Ostensibly, I would use =PV(10.5%,2,,-4725000) for
the problem above. That yields $3,869,699.64 -- the
same answer you got with XNPV(). It assumese that
10.5% is the APR.

For some reason, it appears that the accounting firm
assumed quarterly compounding at the nominal rate of
10.5%. Thus, =PV(10.5%/4,2*4,,-4725000) yields
$3,840,399.92.