REFCO8 is designed to calculate nuclear fuel cycle cost by the discounted cash flow method for any given capital structure and interest rates. REFCO uses continuous discounting so that each expenditure or income is discounted from the time of occurrence, and fuel cycle costs are calculated for each batch of fuel both individually and cumulatively through each batch. Tax deductible fuel expense can be calculated on a batchwise basis in keeping with industry practice. REFCO8 also has provision for parametic studies of the effect of price escalation, and can be used to calculate the equilibrium fuel cycle cost of a reactor by supplying input data for a single equilibrium batch.IBM360,370; FORTRAN IV; OS/360 (IBM360), OS/370 (IBM370); The program requires approximately 155K bytes of memory for execution.