What is NPER?

The NPER function calculates the number of payment periods required for a loan or investment.

Syntax

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

Example Data

Item

Value

Loan Amount

500,000

Annual Interest Rate

10%

Monthly Payment

10,624.65

Payments per Year

12

Formula

=NPER(10%/12,-10624.65,500000)

Result:

Approximately 60 months

To convert months into years:

=NPER(10%/12,-10624.65,500000)/12

Result:

Approximately 5 years

Practical Use

NPER can answer:

“If I pay 15,000 per month, how long will it take to repay the loan?”

Practice

Create a Loan Period Calculator using:

  • Loan Amount
  • Interest Rate
  • Monthly Payment

Calculate:

  • Number of Months
  • Number of Years
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