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Excel

NPER function in Excel

Returns the number of periods for an investment

=NPER(rate, pmt, pv, [fv], [type])

NPER syntax and parameters

Five arguments, three required.

  • ratenumberRequired

    The interest rate per period.

  • pmtnumberRequired

    The payment made each period; it cannot change over the life of the annuity. Typically, pmt contains principal and interest but no other fees or taxes.

  • pvnumberRequired

    The present value, or the lump-sum amount that a series of future payments is worth right now.

  • fvnumberOptional

    The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).

  • typenumberOptional

    The number 0 or 1 and indicates when payments are due.

NPER examples

Formulas you'll actually reuse.

  1. How many monthly payments of $350 clear an $18,000 loan at 6%:

    =NPER(6%/12, -350, 18000)

    Result59.6

  2. Years for a deposit to double at 4% with no further payments:

    =NPER(4%, 0, -10000, 20000)

    Result17.67

NPER in Google Sheets

Same name — your formula ports as-is.

Try NPER in the playground

Edit the example — nothing to install.

Preloaded with the NPER formula from Example 1 — change anything and watch it respond.

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NPER errors

What they mean — and the fixes.

  • #NUM!

    The payment can't cover the interest, so the balance never falls — raise the payment or check the signs (loan positive, payment negative).

Related functions

More ways Excel gets this done.