NPer Function

Calculates the number of periods for an annuity


Description

The function NPer returns a value specifying the number of periods for an annuity based on periodic fixed payments and a fixed interest rate.


Syntax

NPer (Rate, Pmt, PV)

NPer (Rate, Pmt, PV, FV)

NPer (Rate, Pmt, PV, FV, Due)


Required Parameters

Rate

The interest rate per period. For example, if you get a car loan at an annual percentage rate (APR) of 10 percent and make monthly payments, the rate per period is 0.1/12, or 0.0083.


Pmt

The payment to be made each period. Payments usually contain principal and interest that does not change over the life of the annuity.


PV

The present value, or value today, of a series of future payments or receipts. For example, when you borrow money to buy a car, the loan amount is the present value to the lender of the monthly car payments you will make.


Optionale Parameter

FV

The future value or cash balance you want after you have made the final payment. For example, the future value of a loan is $0 because that is its value after the final payment.

However, if you want to save $50,000 over 18 years for your child's education, then $50,000 is the future value.

If omitted, 0 is assumed.

 

Due

Value that specifies when payments are due. This argument must be either 0 if payments are due at the end of the payment period, or 1 if payments are due at the beginning of the period.

If omitted, 0 is assumed.