#### NPer

##### NPer(rate, payment, presentMoney, futureMoney, type)

NPer returns a number specifying the number of periods for an annuity based on periodic, fixed payments and a fixed interest rate.

Overloads

- NPer (rate, payment, presentMoney)
- NPer (rate, payment, presentMoney, futureMoney)
- NPer (rate, payment, presentMoney, futureMoney, type)

Parameters

- rate - A Number that specifies the interest rate per period.
- payment - A Number or Currency that specifies the payment to be made each period. Payments usually contain principal and interest that doesn't change over the life of the annuity.
- presentMoney - A Number or Currency that specifies the present value, or value today, of a series of future payments or receipts.
- futureMoney - An optional number or Currency that specifies the future value or cash balance you want after you've made the final payment. If omitted, 0 will be used.
- type - An optional cumber that specifies when payments are due. Specify 0 if payments are due at the end of the payment period, and 1 if payments are due at the beginning of the period. If omitted, 0 will be used.

Return value

Number value.

Examples

- Suppose that you want a $250,000 loan to buy a house. The interest rate is 6.5 percent and you can afford to pay $3,000 per month. How long a mortgage would you need?

  `NPer(0.075/12, -3000, 250000)` - Returns 118.08 (rounded to 2 decimals) months.

- Rather than seeking a loan, suppose that you want to save $500,000 and then buy the house. You can get a 6.5 percent interest rate compounded monthly from your savings plan, and you want to save $3,000 per month. How long would you need to save before you had the required amount of money?

  `NPer(0.065/12, -3000, 0, 250000)` - Returns 68.96 (rounded to 2 decimals) months.