NPER

Used only in ReliaSoft Workbooks

Description: Returns the number of periods for an investment based on periodic, constant payments and a constant interest rate.

Syntax: NPER(Rate, Pmt, PV [FV], [Type])

  • For a more complete description of the arguments in NPER and for more information about annuity functions, see the PV function.
  • Rate is the interest rate per period.
  • Pmt is the payment made each period; it cannot change over the life of the annuity. Typically, Pmt contains principal and interest but no other fees or taxes.
  • PV is the present value, or the lump-sum amount that a series of future payments is worth right now.
  • FV is the future value, or a cash balance you want to attain after the last payment is made. If FV is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).
  • Type is the number 0 or 1 and indicates when payments are due.
Set Type equal to If payments are due
0 or omitted

At the end of the period
1

At the beginning of the period

 

Example:

  • NPER(12%/12, -100, -1000, 10000, 1) = 60
  • NPER(12%/12, -100, -1000, 10000) = 60
  • NPER(12%/12, -100, -1000) = -9.578

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