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The time- and frequency-varying behavior of an indoor power-line network is the result of variable impedance loads connected to its termination points. In fact, any signal transmitted through such a communications network is subject to time-varying multipath fading. In this paper, an analytical calculation method is presented, which can be used to determine the multipath components of any point-to-point channel in the indoor power-line environment. The method calculates all transmission characteristics of the network and, therefore, it can be exploited in the process of designing proper transmission algorithms for optimizing system performance. The proposed method is applied to an example network to demonstrate its usefulness in explaining the network's time-dependent behavior and in estimating channel parameters, such as subchannel bandwidth, multipath delay spread, fading conditions, etc.