How to use the NPER Function (WS,VBA)

Description

The Microsoft Excel NPER function returns the number of periods for an investment based on an interest rate and a constant payment schedule.

Syntax

The syntax for the NPER function in Microsoft Excel is:

NPER( interest_rate, payment, PV, [FV], [Type] )

Parameters or Arguments

interest_rate

The interest rate for the investment.

payment

The amount of the payment for each period. This should be entered as a negative value.

PV

The present value of the payments.

FV

Optional. It is the future value that you'd like the investment to be after all payments have been made. If this parameter is omitted, the NPER function will assume a FV of 0.

Type

Optional. It indicates when the payments are due. If the Type parameter is omitted, it assumes a Type value of 0. Type can be one of the following values:

Value	Explanation
0	Payments are due at the end of the period. (default)
1	Payments are due at the beginning of the period.

Applies To

• Excel 2016, Excel 2013, Excel 2011 for Mac, Excel 2010, Excel 2007, Excel 2003, Excel XP, Excel 2000

Type of Function

• Worksheet function (WS)
• VBA function (VBA)

Example (as Worksheet Function)

Let's look at some NPER examples and explore how to use the NPER function as a worksheet function in Microsoft Excel:

This first example returns the number of monthly payments (monthly payments are $150) for a $5,000 investment that earns 7.5% annually. Payments are due at the end of the period.

=NPER(7.5%/12, -150, 5000)
Result: 37.49506232

This next example returns the number of weekly payments (weekly payments are $175) for a $8,000 investment that earns 6% annually. Payments are due at the beginning of each week.

=NPER(6%/52, -175, 8000, 0 ,1)
Result: 46.93552388

This next example returns the number of annual payments (annual payments are $200) for a $1,500 investment that earns 5.25% annually. Payments are due at the end of each year.

=NPER(5.25%/1, -200, 1500)
Result: 9.780722988

Example (as VBA Function)

The NPER function can also be used in VBA code in Microsoft Excel.

Let's look at some Excel NPER function examples and explore how to use the NPER function in Excel VBA code:

Dim LValue As Double

LValue = NPer(0.0525/1, -200, 1500)

In this example, the variable called LValue would now contain the value of 9.780722988.