Present Value of Multiple Unequal Cash Fk To find the present value of multiple unequal cash flows, we will first discuss the same method we used to find the future value of multiple unequal cash flows. Let's look at Andrew Luck's contract which was discussed in the chapter opener. What is the present value of the contract? t Cash flow 0 $ 18,400,000 1 19,400,000 2 24,400,000 3 27,525,000 4 28,400,000 5 21,000,000 Interest rate: 12% To find the present value of each cash flow, we can set up a table similar to the one we used to find the future value of each cash flow. So, the present value of the contract is: t Cash flow 0 1 ? 2 ? 3 ? 4 ? 5 ? Total: ? The NPV, or net present value, function in Excel can be used to fin the present value of unequal cash flows. We will discuss NPV in much more detail later, but for now, we will use it to find the present value of these cash flows. Using the NPV function, the present value of the contract is: Present value