totn Excel Functions

MS Excel: How to use the NPER Function (WS, VBA)

This Excel tutorial explains how to use the Excel NPER function with syntax and examples.

Description

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

The NPER function is a built-in function in Excel that is categorized as a Financial Function. It can be used as a worksheet function (WS) and a VBA function (VBA) in Excel. As a worksheet function, the NPER function can be entered as part of a formula in a cell of a worksheet. As a VBA function, you can use this function in macro code that is entered through the Microsoft Visual Basic Editor.

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.

Returns

The NPER function returns a numeric value.

Applies To

  • Excel for Office 365, Excel 2019, 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.

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