29. Write a spreadsheet program to calculate the NPV of a project with an irregular pattern of cash flows for up to 10 periods without using the spreadsheet software’s NPV function. Essentially, the task is to program equation 10.1 with n 10.

First input the interest rate (k) in a single cell.

Next set up three horizontal rows of 11 cells (including C0). The top row will receive the cash flows as inputs.

Program the present value factor for each period into the second row of cells using the interest rate you input earlier as follows.

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Period 0 1 2 1 1 Factor 1 1 k (1 + k) 10 1 (1 + k)10 Note that we're calling the interest rate k, but it will appear as a cell name in your program. Next form the third row by multiplying the top two cells in each column together. This makes the third row the present value of each cash flow. Finally, sum the values along the third row in another cell to form the project's NPV. Notice that your program will handle a project of less than 10 periods if you simply input zero (or leave blank) the cash flow cells from n+1 to 10. Also notice that you can easily extend your program to any reasonable number of periods by extending the horizontal rows and the programming logic. Test your program on the data in Example 10.3 on pages 428-430 to make sure it works correctly.