NPER

Description Returns the number of periods of an investment based on regular periodic payments and a fixed interest rate.

Syntax NPER ( interest, pmt, pf [, fv] [, type] )

Argument Description

interest The fixed interest rate.

pmt The fixed payment made each period. Generally, pmt includes the principle and interest, not taxes or other fees.

pf The present value, the lump-sum amount that a series of future payments is currently worth.

[fv] Optional. The future value, the balance to attain after the final payment. If this argument is omitted, 0 is used.

[type] Optional. Indicates when payments are due. Use 0 if payments are due at the end of the period or 1 if payments are due at the beginning of the period. If this argument is omitted, 0 is used.

Argument	Description
interest	The fixed interest rate.
pmt	The fixed payment made each period. Generally, pmt includes the principle and interest, not taxes or other fees.
pf	The present value, the lump-sum amount that a series of future payments is currently worth.
[fv]	Optional. The future value, the balance to attain after the final payment. If this argument is omitted, 0 is used.
[type]	Optional. Indicates when payments are due. Use 0 if payments are due at the end of the period or 1 if payments are due at the beginning of the period. If this argument is omitted, 0 is used.

Examples This function returns 36.67:

NPER(12%/12, -350, -300, 16000, 1)

This function returns 36.98:

NPER(1%, -350, -300, 16000)

See Also FV, CUMIPMT, CUMPRINC, IPMT, PMT, PPMT, PV, RATE