NPER

Returns the total number of payment periods in an annuity based on periodic, constant payments and future value.

NPER(rate, pmt, pv, fv, type)

Parameters

• rate - The interest rate per period.
• pmt - The payment made each period; payments are assumed to be made at the end of each period.
• pv - The present value, or the total amount that a series of future payments is worth now.
• fv - The future value, or a cash balance that 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). (optional)
• type - The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0. (optional)

Examples

NPER(0.075 / 12, -200, 8000)

Result: 46.173

Note: Calculates the number of months it takes to pay off a loan with a $200 monthly payment, 7.5% monthly interest rate, and a $8,000 loan amount.