# NPER

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## Content



This function returns the number of periods for an investment based on a present value, future value, periodic payments, and a specified interest rate.

## Syntax

NPER(*rate*,*paymt*,*pval*,*fval*,*type*)

## Arguments

This function has these arguments:

| **Argument** | **Description** |
| -------- | ----------- |
| *rate* | Interest rate expressed as percentage (per period) |
| *paymt* | Payment made each period; cannot change over life of the annuity |
| *pval* | Present value |
| *fval* | [Optional] Future value; if omitted, the calculation uses zero (0) |
| *type* | [Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0) |

For the arguments, money paid out (such as deposits in an investment) is represented by negative numbers; money you receive (such as dividend checks) is represented by positive numbers.

## Remarks

Be sure to express the interest rate as per period. For example, if you make monthly payments on a loan at 8 percent interest, use 0.08/12 for the rate argument.
See the [PV](/spreadnet/docs/latest/online-formula/formulas-functionsall/formulas-functsMtoQ/FunctionPV) function for the equations for calculating financial values.

## Data Types

Accepts numeric data for all arguments. Returns numeric data.

## Examples

`NPER(A1/12,50,1000,0,1)`
`NPER(R1C1/12,50,1000,0,1)`
`NPER(0.005,-790,90000,0,1)` gives the result 167.7227522114

## Version Available

This function is available in product version 1.0 or later.

## See Also

[FV](/spreadnet/docs/latest/online-formula/formulas-functionsall/formulas-functsDtoG/FunctionFV) \| [PMT](/spreadnet/docs/latest/online-formula/formulas-functionsall/formulas-functsMtoQ/FunctionPMT) \| [PV](/spreadnet/docs/latest/online-formula/formulas-functionsall/formulas-functsMtoQ/FunctionPV) \| [Financial Functions](/spreadnet/docs/latest/online-formula/formulas-overview/formulas-functs/formulas-functtypes/formulas-functsfinance)