NPER function
This article describes the formula syntax and usage of the NPERfunction in Microsoft Excel.
Description
Returns the number of periods for an investment based on periodic, constant payments and a constant interest rate.
Syntax
NPER(rate,pmt,pv,[fv],[type])
For a more complete description of the arguments in NPER and for more information about annuity functions, see PV.
The NPER function syntax has the following arguments:

Rate Required. The interest rate per period.

Pmt Required. 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.

Pv Required. The present value, or the lumpsum amount that a series of future payments is worth right now.

Fv Optional. 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).

Type Optional. The number 0 or 1 and indicates when payments are due.
Set type equal to 
If payments are due 
0 or omitted 
At the end of the period 
1 
At the beginning of the period 
Example
The example may be easier to understand if you copy it to a blank worksheet.
How do I copy an example?

Select the example in this article.
Important Do not select the row or column headers.
Selecting an example from Help

Press CTRL+C.

In Excel, create a blank workbook or worksheet.

In the worksheet, select cell A1, and press CTRL+V.
Important For the example to work properly, you must paste it into cell A1 of the worksheet.

To switch between viewing the results and viewing the formulas that return the results, press CTRL+` (grave accent), or on the Formulas tab, in the Formula Auditing group, click the Show Formulas button.
After you copy the example to a blank worksheet, you can adapt it to suit your needs.

