# Excel NPER Function

Summary

The Excel NPER function is a financial function that returns the number of periods for loan or investment. You can use the NPER function to get the number of payment periods for a loan, given the amount, the interest rate, and periodic payment amount.

Purpose

Get number of periods for loan or 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 payment periods for a loan (or an investment), given the amount, the interest rate, and a periodic payment amount.

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.