Excel NPER Function
The Excel NPER function is a financial function that returns the number of periods for a 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.
Get number of periods for loan or 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 payment periods for a loan (or an investment), given the amount, the interest rate, and a periodic payment amount.
- 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.
NPER formula examples
Loans have four primary components: the amount, the interest rate, the number of periodic payments (the loan term) and a payment amount per period. One use of the NPER function is to calculate the number of periodic...