# Documentation/Calc Functions/NPER

Jump to navigation Jump to search

NPER

## Category:

Financial Analysis

## Summary:

Calculates the number of periods for an investment based on periodic, constant payments and a constant interest rate.

## Syntax:

NPER(Rate; Pmt; PV[; [FV] [; Type]])

## Returns:

Returns a real number which is the number of payment periods for investment with specified parameters.

## Arguments:

Rate is a real number (expressed as a percentage or fraction) or a reference to the cell containing that number which is the periodic interest rate.

Pmt is a real number or a reference to the cell containing that number which is the constant annuity paid in each period.

PV is a real number or a reference to the cell containing that number which is the present cash value in a sequence of payments.

FV is a real number or a reference to the cell containing that number which is the desired value (future value) at the end of the periods. If it is omitted, then the function uses 0.

Type is the due date of the payment at the beginning or end of each period. If it is omitted, then the function uses 0.

Type Maturity Date
0 due at the end
1 due at the beginning
• If Pmt is 0 then the function returns an error value.
• If Type is anything accept 0 or 1, then the function returns an error value.

## Additional details:

• NPER solves the following equation:

## Examples:

Formula Description Returns
=NPER(6%;153.75;2600;1;1) The function calculates how many payment periods does a payment period cover with a periodic interest rate of 6%, a periodic payment of 153.75 currency units, and a present cash value of 2,600 currency units and the desired value at the end of the period as 1. (due at the beginning) -11.5307487138452
=NPER(6%;153.75;2600;0;0) The function calculates how many payment periods does a payment period cover with a periodic interest rate of 6%, a periodic payment of 153.75 currency units, and a present cash value of 2.600 currency units and the desired value at the end of the period as 0. (due at the end) -12.0207780851555
=NPER(6%;153.75;2600) The function calculates how many payment periods does a payment period cover with a periodic interest rate of 6%, a periodic payment of 153.75 currency units, and a present cash value of 2.600 currency units and the desired value at the end of the period as 0 by default. (due at the end by default) -12.0207780851555

NPER