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NPer Function
Returns a specifying the number of periods for an annuity based on periodic, fixed payments and a fixed interest rate.
NPer(rate, pmt, pv[, fv[, type]])
Arguments
- rate
- Required. Double specifying interest rate per period. For example, if you get a car loan at an annual percentage rate (APR) of 10 percent and make monthly payments, the rate per period is 0.1/12, or 0.0083.
- pmt
- Required. Double specifying payment to be made each period. Payments usually contain principal and interest that doesn't change over the life of the annuity.
- pv
- Required. Double specifying present value, or value today, of a series of future payments or receipts. For example, when you borrow money to buy a car, the loan amount is the present value to the lender of the monthly car payments you will make.
- fv
- Optional. specifying future value or cash balance you want after you've made the final payment. For example, the future value of a loan is $0 because that's its value after the final payment. However, if you want to save $50,000 over 18 years for your child's education, then $50,000 is the future value. If omitted, 0 is assumed.
- type
- Optional. Object specifying when payments are due. Use 0 if payments are due at the end of the payment period, or use 1 if payments are due at the beginning of the period. If omitted, 0 is assumed.
Remarks
An annuity is a series of fixed cash payments made over a period of time. An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan).
For all , cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.
See Also
Example
DDB Function | FV Function | IPmt Function | IRR Function | MIRR Function | NPV Function | Pmt Function | PPmt Function | PV Function | Rate Function | SLN Function | SYD Function