The Excel NPER function is a financial function that returns the number of periods for loan or investment.
Get the number of periods for an investment
The number of periods
=NPER (rate, pmt, pv, [fv], [type])
- 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.
You can use the NPER function to get the number of periods for an investment when payments and the interest rate are constant.
- 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.