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<< Click to Display Table of Contents >> NPER (number of periods) |
Syntax:
NPER(Rate, Pmt, PV [, FV] [, Type])
Description:
This returns the number of payment periods of an investment based on periodic constant payments and a fixed interest rate.
You can use this function, for example, to calculate how many periodic payments (annuities) must be made for a loan.
"Period" means a payment period. For example, for a loan with monthly repayments, the third period is the third month.
The function expects the following arguments:
Rate is the interest rate (per payment period)
Pmt is the annuity (payment made for each period).
PV is the present value (initial amount)
FV (optional) is the future value (the total value after the last payment). If the argument FV is omitted, it will be set to zero.
Type (optional) is the timing of the payments:
0 or omitted: Payment at the end of each period.
1: Payment at the beginning of each period.
See also: