Summary
The Excel NPER function is a financial function that returns the number of periods for loan or investment.
Purpose
Get the number of periods for an investment
Return value
The number of periods
Syntax
=NPER (rate, pmt, pv, [fv], [type])
Arguments
- rate – The interest rate per period.
- pmt – The payment made each period.
- pv – The present value, or total value of all payments now.
- fv – [optional] The future value, or a cash balance you want after the last payment is made. Defaults to 0.
- type – [optional] When payments are due. 0 = end of period. 1 = beginning of period. Default is 0.
Usage notes
You can use the NPER function to get the number of periods for an investment when payments and the interest rate are constant.
Notes:
- PMT normally includes principal and interest but not taxes, reserve payments, or fees.
- Be sure you supply rate consistent with periods. For example, if an annual interest rate is 12 percent, use 12%/12 for rate to get NPER to return periods in months.
