## Purpose

Get number of periods for loan or investment

## Return value

The number of periods

## Syntax

`=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.

## How to use

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.