Given a set of cash inflows, outflows, and a discount rate, this calculates the modified payback period.

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- Discounted Cash Flow = Net Cash Flow/(1 + i)
^{t}

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- discount
- the amount by which the market price of a bond is lower than its principal amount due at maturity
- modified payback period
- Year in which the cumulative positive cash flows from investment exceed the total negative cash flows
- payback
- the length of time it takes to recover the cost of an investment or the length of time an investor needs to reach a breakeven point
- present value
- the value in the present of a sum of money, in contrast to some future value it will have when it has been invested at compound interest.

PV = FV/(1 + i)^{n}

where I is the interest rate per period, PV = Present Value, and FV = Future Value