I used NPV functioon from Excel and found the result was different from what I got using this financial calculator. Why?
[Answer: The difference is the the way we treat the first cash flow:
is it at the beginning of the period or at the end of the period?]
In this financial calculator, we treat the first cash flow as the begiing of the period. In the investment project, if the expenses are at the end of the period, you need to put a zero cash flow at the beginning.
Refer to the previous example. Example 1-4