ONE FUTURE PAYMENT

Future Payment $ 750

In Year 5

Discount Rate 3.0%

NPV $ 647

EXAMPLE 1

Option 1 Today $ 750

Year 1 2 3 4 5 6 7 8
Option 2 Cash Flow $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100

Discount Rate 11.9%

Discounted Cash Flow $ 89 $ 80 $ 71 $ 64 $ 57 $ 51 $ 45 $ 41

NPV $ 750

EXAMPLE 2

Option 1 Today $ 750

Year 1 2 3 4 5 6 7 8
Option 2 Cash Flow $ 200 $ 200 $ 200 $ 200 $ 200 $ 200 $ 200 $ 200

Discount Rate 23.4%

Discounted Cash Flow $ 162 $ 131 $ 106 $ 86 $ 70 $ 57 $ 46 $ 37

NPV $ 750
 9 10 11 12 13 14 15 16 17 18 19 20
$ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100

$ 36 $ 32 $ 29 $ 26 $ 23 $ 21 $ 18 $ 16 $ 15 $ 13 $ 12 $ 10

9 10
$ 200 $ 200

$ 30 $ 24
 10.0% 9/30/2018 ### ###
Cash Multiple NPV IRR MIRR XIRR Investment Year 1 Year 2
Investment 1 2.0 $564 17% 15% 21% $ (2,000) $ 200 $ 200
Investment 2 2.0 $570 17% 15% 21% $ (2,000) $ 200 $ 200
Investment 3 2.0 $745 21% 16% 27% $ (2,000) $ 200 $ 200
Investment 4 2.0 $765 22% 16% 28% $ (2,000) $ 250 $ 250
Investment 5 2.0 $967 28% 17% 41% $ (2,000) $ 250 $ 250
Investment 6 2.0 $1,020 31% 18% 48% $ (2,000) $ 500 $ 500
Investment 7 2.0 $1,225 45% 18% 89% $ (2,000) $ 500 $ 3,500
Investment 8 2.0 $1,488 100% 19% 1419% $ (2,000) $ 4,000 $ -

Cash Multiple NPV IRR MIRR XIRR Investment Year 1 Year 2

Investment 9 12.5 $12,294 66% 66% 81% $ (2,000) $ - $ -
Investment 10 3.6 $3,122 66% 32% 132% $ (2,000) $ 1,434 $ 1,434
 ### ### 1/1/2023
Year 3 Year 4 Year 5 Total Cashflow
$ 200 $ 200 $ 3,200 $ 4,000
$ 200 $ 300 $ 3,100 $ 4,000
$ 200 $ 3,400 $ - $ 4,000
$ 250 $ 3,250 $ - $ 4,000
$ 3,500 $ - $ - $ 4,000
$ 3,000 $ - $ - $ 4,000
$ - $ - $ - $ 4,000
$ - $ - $ - $ 4,000

Year 3 Year 4 Year 5 Total Cashflow

$ - $ - $ 25,000 $ 25,000
$ 1,434 $ 1,434 $ 1,434 $ 7,168