Difference between revisions of "Documentation/How Tos/Calc: NPER function"
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: <tt>'''NPER'''</tt> returns the number of payment periods implied by a lump sum (<tt>'''presentvalue'''</tt>) at the start of the term, a <tt>'''payment'''</tt> being made each period for <tt>'''numperiods'''</tt> periods, at fixed rate interest, compounded each period, and a lump sum (<tt>'''futurevalue'''</tt>) at the end of the term. | : <tt>'''NPER'''</tt> returns the number of payment periods implied by a lump sum (<tt>'''presentvalue'''</tt>) at the start of the term, a <tt>'''payment'''</tt> being made each period for <tt>'''numperiods'''</tt> periods, at fixed rate interest, compounded each period, and a lump sum (<tt>'''futurevalue'''</tt>) at the end of the term. | ||
| − | : See | + | : See [[Documentation/How_Tos/Calc: Derivation of Financial Formulas|Derivation of Financial Formulas]]''' for the underlying formula. |
=== Example: === | === Example: === | ||
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{{Documentation/SeeAlso| | {{Documentation/SeeAlso| | ||
| − | * [[Documentation/How_Tos/Calc: PV function|PV]] | + | * [[Documentation/How_Tos/Calc: PV function|PV]] |
| − | * [[Documentation/How_Tos/Calc: FV function|FV]] | + | * [[Documentation/How_Tos/Calc: FV function|FV]] |
| − | * [[Documentation/How_Tos/Calc: IPMT function|IPMT]] | + | * [[Documentation/How_Tos/Calc: IPMT function|IPMT]] |
| − | * [[Documentation/How_Tos/Calc: PMT function|PMT]] | + | * [[Documentation/How_Tos/Calc: PMT function|PMT]] |
| − | * [[Documentation/How_Tos/Calc: PPMT function|PPMT]] | + | * [[Documentation/How_Tos/Calc: PPMT function|PPMT]] |
* [[Documentation/How_Tos/Calc: RATE function|RATE]] | * [[Documentation/How_Tos/Calc: RATE function|RATE]] | ||
| − | + | * [[Documentation/How_Tos/Calc: Derivation of Financial Formulas|Derivation of Financial Formulas]] | |
| − | * [[Documentation/How_Tos/Calc: Derivation of Financial Formulas|Derivation of Financial Formulas]] | ||
| − | |||
* [[Documentation/How_Tos/Calc: Financial functions|Financial functions]] | * [[Documentation/How_Tos/Calc: Financial functions|Financial functions]] | ||
| − | |||
* [[Documentation/How_Tos/Calc: Functions listed alphabetically|Functions listed alphabetically]] | * [[Documentation/How_Tos/Calc: Functions listed alphabetically|Functions listed alphabetically]] | ||
* [[Documentation/How_Tos/Calc: Functions listed by category|Functions listed by category]]}} | * [[Documentation/How_Tos/Calc: Functions listed by category|Functions listed by category]]}} | ||
Revision as of 14:09, 25 February 2009
NPER
Returns the number of payment periods for an annuity.
Syntax:
NPER(rate; payment; presentvalue; futurevalue; type)
- rate: the (fixed) interest rate per period.
- payment: the payment made each period.
- presentvalue: the lump sum payment at the start of the term.
- futurevalue: the cash balance paid at the end of the term (optional - defaults to 0).
- type: when payments are made (optional - defaults to 0):
- 0 - at the end of each period.
- 1 - at the start of each period (including a payment at the start of the term).
- NPER returns the number of payment periods implied by a lump sum (presentvalue) at the start of the term, a payment being made each period for numperiods periods, at fixed rate interest, compounded each period, and a lump sum (futurevalue) at the end of the term.
- See Derivation of Financial Formulas for the underlying formula.
Example:
NPER(5%; -100; 0; 1000; 0)
- returns approximately 8.31, the number of periods to realise this scenario.
Template:Documentation/SeeAlso
Issues:
- The number of periods returned can be fractional. The fraction results from solving the equation, and is not in itself meaningful. Real life periods will be whole.
- Take care that you understand how this function compounds the interest each period. Many financial calculators allow you to set a separate compounding period - spreadsheets do not. Choose the interest rate appropriately.
