Net present value (NPV) is a standard method for the financial appraisal of long-term projects. Used for capital budgeting, and widely throughout economics, it measures the excess or shortfall of cash flows, in present value (PV) terms, once financing charges are met.

The Menu Map for the HP 20b NPV Menu.

Explanation of NPV Menu Items:

**Inv.I%=**Investment or discount rate. Enter the investment rate or discount rate for the cash flow followed by I.**NetPV=**Net present value. Returns the value of the cash flows at the time of the initial cash flow, discounting the future cash flows by the value set for Inv.I%.**NetFV=**Net future value. Returns the value of the cash flows at the time of the last cash flow, discounting the earlier cash flows by the value set for Inv.I%.**NetUS=**Net uniform series. The per-period payment of a regular, periodic cash flow of equivalent present value to the cash flow list.**Payback=**Payback is the number of periods for the investment to return value.**DiscountedPayback=**Discounted Payback. The number of periods required for the investment to return value if the cash flows are discounted using the value set in Inv.I%.**Total=**The sum of all the cash flows, equivalent to NPV if Inv. I% is 0.

Note: If you press [NPV] key before entering cash flows, you will be redirected to the cash flow menu to enter values into the cash flow list.