### Table of Contents

# 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.

## Additional syntax

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

Argument | Type | Description |
---|---|---|

rate | Number (decimal) | The interest rate of the loan (entered as a decimal). |

payment | Number (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_val | Number | The current value of the annuity. |

fut_val | Number | Optional. 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_due | Binary (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)