NPer

This method specifies the number of periods for an annuity based on periodic fixed payments and a fixed interest rate.

Syntax

financial.NPer(rate, pmt, pv,[ fv], [type])

Parameters

financial

Reference to a Financial control.

rate

Required. Variant that specifies the interest rate per period. For example, if you obtain 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. Variant that specifies the payment to be made each period. Payments usually contain principal and interest that do not change over the life of the annuity.

pv

Required. Variant that specifies the 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. Variant that specifies the future value or cash balance you want after you have made the final payment. For example, the future value of a loan is $0 because that is 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. Variant that specifies 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.

Return Value

Result of the NPer calculation.

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 parameters, cash paid out, such as deposits to savings, is represented by negative numbers; cash received, such as dividend checks, is represented by positive numbers.