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Excel NPER Function

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.

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