NPer

The NPer function returns the number of periods for a loan or investment based on known amount, interest rate, and periodic payment amount.

Syntax

NPER(rate, pmt, pv, [fv], [type])

The NPer function has the following arguments:

rate	Required. The interest rate per period.
pmt	Required The payment for each period.
pv	Required The present value, or total value of all payments made as of the current date.
fv	Optional The future value, or a cash balance after the last payment. Defaults to 0.
type	Optional. Due date of the payment. 0 End of the period 1 Beginning of the period Default is 0

Examples

NPer(0.07/12, 1000, 100000)

The number of months it takes to pay off a loan of $100,000 if the interest rate is 7% and the regular payments are $1,000 each month is 79, or 6 years and 7 months.

NPer(0.07/4, 3000, 100000)

The number of quarters it takes to pay off a loan of $100,000 if the interest rate is 7% and the regular payments are $3,000 each quarter is 26.49, or about 6 years and 7.5 months.