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syntax:functions:nper

# NPer(rate, payment, curr_val)

Category: Number (Financial) function

## Description

This function calculates the number of periods for an investment based on periodic payments and interest rate.

Optional future value (fut_val) argument.

`nper(rate, payment, curr_val, fut_val)`

Optional payments due (pay_due) argument.

`nper(rate, payment, curr_val, fut_val, pay_due)`

## Arguments

ArgumentTypeDescription
rateNumber (decimal)The interest rate of the loan (entered as a decimal).
paymentNumber (negative)The payment made each period (that does not change), entered as a negative value. Includes principal
and interest, but no fees or taxes.
curr_valNumberThe current value of the annuity.
fut_valNumberOptional. The future value, or cash balance, to be achieved after the last payment (i.e., "0" to pay the loan
off in full). The default, if not supplied, is 0.
pay_dueBinary (0 or 1)Optional. This value defines when payments are due. Options: 0 (the beginning of the period; default),
or 1 (the end of the period).

Return value type: Number

## Remarks

For an accurate calculation, be sure to convert rate to the time period desired. If calculating a monthly rate and rate is given as years, divide by 12 (rate / 12).

## Examples

Calculate the number of monthly periods: Interest rate is 12% (annual), payment is \$100 per month, current value is -\$500, final value is \$12,000.

`nper( (0.12/12), -100, -500, 12000) //Returns 74.34 (months, rounded)`

Calculate the number of monthly periods: Interest rate is 2% (monthly), payment is \$250 per month, current value is \$0, final value is \$20,000, payments due at the end of the period.

`nper(0.02, -250, 0, 20000,1) //Returns 47.64  (months, rounded)`

Calculate the number of yearly periods: Interest rate is 12%, payment \$7200 per year, current value is \$27,000, final value is 0 (paid off).

`nper(0.12, -7200, 27000, 0) //Returns 5.28 (years, rounded)`