Language Reference Guide : Functions : Finance Library Functions : NPER Function
 
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NPER Function
The NPER function determines the number of periods required for an investment to mature or a loan to be repaid, given a principal or present value, a specified interest rate, and equal periodic payments. It uses the same equation as the FV (future value) function (see FV Function). Future value is usually set to 0, the default, indicating that loan is being paid off completely.
This function has the following syntax:
NPER(pv = value, i = value, pmt = value [, fv = value, paybegin])
Note:  Paybegin is either 1 or 0, indicating that the payment is made at the beginning or end of the period.
Arguments
Data Type
Description
pv
Float
Present value
i
Float
Interest per period
pmt
Float
Periodic payment
fv
Float
Future value
Default: 0
paybegin
Integer
1 = beginning of period
0 = end of period
Default: 0
This function returns:
• Float—The number of periods to repay a loan (pv) at interest per period (i) with payments (pmt)
• Null—On error
Example—NPER function:
/*  Calculate the number of periods needed to repay a
**  loan of $10,000, interest rate = 7% per year and
**  payments of $200 per month. Payment will have to
**  be entered as negative since it is outflow.
*/
numbPeriods = nper(pv = 10000, i = .07/12, pmt = -200);