Spreadsheet: 888893d1739516938-dynamic-array-corkscrew-calculation-balance-opening-closing-and-circular-references-balance_and_dynamic_array
Sheet: Sheet1

 |  | Use the balance opening |  | Gearing target |  |  | 0.7
 |  |  |  | Interest rate |  |  | 0.05
 |  |  |  | Initial Capital |  |  | 6
 |  |  |  | Period |  |  | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10
 |  |  |  | Funding |  |  |  |  |  |  |  |  |  |  |  |  |  | Expected Results (original): |  |  |  |  |  |  |  |  |  |  | Validate Results:
 |  |  |  | Capital Expense |  |  | -5 | -10 | -15 | -20 | -25 | -40 | -20 | -10 | -5 | -2 |  | -5 | -10 | -15 | -20 | -25 | -40 | -20 | -10 | -5 | -2 |  |  | True | True | True | True | True | True | True | True | True
 |  | Yes |  | Interest During Construction |  |  |  | 0 | -0.45 | -1.06575 | -1.80305125 | -2.74115804375 | -4.23709857528125 | -5.085397025416093 | -5.613385921305656 | -5.984854428551354 |  | 0 | 0 | -0.45 | -1.06575 | -1.80305125 | -2.74115804375 | -4.23709857528125 | -5.085397025416093 | -5.613385921305656 | -5.984854428551354 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Funding Needs |  |  | -5 | -10 | -15.45 | -21.06575 | -26.80305125 | -42.74115804375 | -24.23709857528125 | -15.08539702541609 | -10.61338592130566 | -7.984854428551354 |  | -5 | -10 | -15.45 | -21.06575 | -26.80305125 | -42.74115804375 | -24.23709857528125 | -15.08539702541609 | -10.61338592130566 | -7.984854428551354 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  | Yes |  | Cash Available Used |  |  |  | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 5 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Funding needs after cash available |  |  | 0 | -9 | -15.45 | -21.06575 | -26.80305125 | -42.74115804375 | -24.23709857528125 | -15.08539702541609 | -10.61338592130566 | -7.984854428551354 |  | 0 | -9 | -15.45 | -21.06575 | -26.80305125 | -42.74115804375 | -24.23709857528125 | -15.08539702541609 | -10.61338592130566 | -7.984854428551354 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  | Yes |  | Capital Injection |  |  |  | 0 | 3.135000000000002 | 6.319725 | 8.040915374999999 | 12.822347413125 | 7.271129572584371 | 4.525619107624827 | 3.184015776391696 | 2.395456328565409 |  | 0 | 0 | 3.135000000000002 | 6.319725 | 8.040915374999999 | 12.822347413125 | 7.271129572584371 | 4.525619107624827 | 3.184015776391696 | 2.395456328565409 |  | True | True | True | True | True | True | True | True | True | True
 |  | Yes |  | [NAME] |  |  | 0 | 9 | 12.315 | 14.746025 | 18.762135875 | 29.918810630625 | 16.96596900269687 | 10.55977791779125 | 7.42937014491396 | 5.589398099985942 |  | 0 | 9 | 12.315 | 14.746025 | 18.762135875 | 29.918810630625 | 16.96596900269687 | 10.55977791779125 | 7.42937014491396 | 5.589398099985942 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Gearing at opening |  |  |  | 0 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |  | 0 | 0 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Gearing at closing |  |  | 0 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |  | 0 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Cash |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Balance opening |  |  |  | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 6 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Decrease |  |  |  | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | -5 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Balance closing |  |  | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Balance opening |  |  |  | 6 | 6 | 9.135000000000002 | 15.454725 | 23.495640375 | 36.317987788125 | 43.58911736070937 | 48.1147364683342 | 51.2987522447259 |  | 6 | 6 | 6 | 9.135000000000002 | 15.454725 | 23.495640375 | 36.317987788125 | 43.58911736070937 | 48.1147364683342 | 51.2987522447259 |  | True | True | True | True | True | True | True | True | True | True
 |  | from line 19 |  | Increase |  |  | 0 | 0 | 3.135000000000002 | 6.319725 | 8.040915374999999 | 12.822347413125 | 7.271129572584371 | 4.525619107624827 | 3.184015776391696 | 2.395456328565409 |  | 0 | 0 | 3.135000000000002 | 6.319725 | 8.040915374999999 | 12.822347413125 | 7.271129572584371 | 4.525619107624827 | 3.184015776391696 | 2.395456328565409 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Decrease |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Balance closing |  |  |  | 6 | 9.135000000000002 | 15.454725 | 23.495640375 | 36.317987788125 | 43.58911736070937 | 48.1147364683342 | 51.2987522447259 | 53.69420857329131 |  | 6 | 6 | 9.135000000000002 | 15.454725 | 23.495640375 | 36.317987788125 | 43.58911736070937 | 48.1147364683342 | 51.2987522447259 | 53.69420857329131 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Balance opening |  |  |  | 0 | 9 | 21.315 | 36.06102499999999 | 54.82316087499999 | 84.74197150562499 | 101.7079405083219 | 112.2677184261131 | 119.6970885710271 |  | 0 | 0 | 9 | 21.315 | 36.06102499999999 | 54.82316087499999 | 84.74197150562499 | 101.7079405083219 | 112.2677184261131 | 119.6970885710271 |  | True | True | True | True | True | True | True | True | True | True
 |  | from line L20 |  | Increase |  |  | 0 | 9 | 12.315 | 14.746025 | 18.762135875 | 29.918810630625 | 16.96596900269687 | 10.55977791779125 | 7.42937014491396 | 5.589398099985942 |  | 0 | 9 | 12.315 | 14.746025 | 18.762135875 | 29.918810630625 | 16.96596900269687 | 10.55977791779125 | 7.42937014491396 | 5.589398099985942 |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Decrease |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | True | True | True | True | True | True | True | True | True | True
 |  |  |  | Balance closing |  |  |  | 9 | 21.315 | 36.06102499999999 | 54.82316087499999 | 84.74197150562499 | 101.7079405083219 | 112.2677184261131 | 119.6970885710271 | 125.286486671013 |  | 0 | 9 | 21.315 | 36.06102499999999 | 54.82316087499999 | 84.74197150562499 | 101.7079405083219 | 112.2677184261131 | 119.6970885710271 | 125.286486671013 |  | True | True | True | True | True | True | True | True | True | True
 |  |  | Group | Category |  |  | Dynamic Array Model:
 |  |  |  | Interest During Construction |  |  |  | 0 | -0.45 | -1.06575 | -1.80305125 | -2.74115804375 | -4.23709857528125 | -5.085397025416093 | -5.613385921305656 | -5.984854428551354
 |  |  |  | Funding Needs |  |  | -5 | -10 | -15.45 | -21.06575 | -26.80305125 | -42.74115804375 | -24.23709857528125 | -15.08539702541609 | -10.61338592130566 | -7.984854428551354
 |  |  |  | Cash Available Used |  |  | 5 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  |  | Funding needs after cash available |  |  | 0 | -9 | -15.45 | -21.06575 | -26.80305125 | -42.74115804375 | -24.23709857528125 | -15.08539702541609 | -10.61338592130566 | -7.984854428551354
 |  |  |  | Capital Injection |  |  | 0 | 0 | 3.135000000000002 | 6.319725 | 8.040915374999999 | 12.822347413125 | 7.271129572584371 | 4.525619107624827 | 3.184015776391696 | 2.395456328565409
 |  |  |  | [NAME] |  |  | 0 | 9 | 12.315 | 14.746025 | 18.762135875 | 29.918810630625 | 16.96596900269687 | 10.55977791779125 | 7.42937014491396 | 5.589398099985942
 |  |  |  | Gearing at opening |  |  | 0 | 0 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7
 |  |  |  | Gearing at closing |  |  | 0 | 0.6 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7
 |  |  | Cash | Balance opening |  |  | 6 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  | Cash | Increase |  |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  | Cash | Decrease |  |  | -5 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  | Cash | Balance closing |  |  | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  | Capital | Balance opening |  |  | 6 | 6 | 6 | 9.135000000000002 | 15.454725 | 23.495640375 | 36.317987788125 | 43.58911736070937 | 48.1147364683342 | 51.2987522447259
 |  |  | Capital | Increase |  |  | 0 | 0 | 3.135000000000002 | 6.319725 | 8.040915374999999 | 12.822347413125 | 7.271129572584371 | 4.525619107624827 | 3.184015776391696 | 2.395456328565409
 |  |  | Capital | Decrease |  |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  | Capital | Balance closing |  |  | 6 | 6 | 9.135000000000002 | 15.454725 | 23.495640375 | 36.317987788125 | 43.58911736070937 | 48.1147364683342 | 51.2987522447259 | 53.69420857329131
 |  |  | Debt | Balance opening |  |  | 0 | 0 | 9 | 21.315 | 36.06102499999999 | 54.82316087499999 | 84.74197150562499 | 101.7079405083219 | 112.2677184261131 | 119.6970885710271
 |  |  | Debt | Increase |  |  | 0 | 9 | 12.315 | 14.746025 | 18.762135875 | 29.918810630625 | 16.96596900269687 | 10.55977791779125 | 7.42937014491396 | 5.589398099985942
 |  |  | Debt | Decrease |  |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  | Debt | Balance closing |  |  | 0 | 9 | 21.315 | 36.06102499999999 | 54.82316087499999 | 84.74197150562499 | 101.7079405083219 | 112.2677184261131 | 119.6970885710271 | 125.286486671013