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EXCEL NPER FUNCTION
Excel NPER Function Introduction
This function gives the number of periods for an investment Based on constant monthly payments and an interest rate.
Description of Excel NPER Function
Syntax:
=NPER (rate, pmt, pv, [fv], [type])
Parameter list:
- The interest rate per period is referred to as the rate.
- pmt – the amount of money paid each period.
- pv stands for present value, or the entire worth of all current payments.
- fv – [optional] the future value, or the cash balance you’d like after the last payment. The default value is 0.
- When payments are due, type – [optional]. 0 indicates the end of the era. 1 indicates the start of the era.
The default value is 0.
Step By Step Guide of NPER Function
By investing at the beginning and end of the period, we can determine the duration in this case. The payment at the start of the term will be calculated with 1 as the fifth parameter, and the present value of the investment will be negative since cash has been flown out.
Key Points
The monthly interest rate is calculated by dividing the interest rate by 12 and the duration is 48 months (12 months x 4). If you pay quarterly, the rate will be 8% /4 and the number will be 16 (4 periods x 4 years). Taxes, reserve payments, fees, and other costs are usually excluded from PMT.
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