FinNPer

Syntax

FinNPer(Rate,Pmt,Pv,Fv,Due)

Description

Returns the number of periods for an annuity based on periodic fixed payments and a constant rate of interest.

An annuity is a series of fixed payments paid to or received from an investment over a period of time. Examples of annuities are mortgages, retirement plans, monthly savings plans, and term loans.

Positive numbers represent cash received, whereas negative numbers represent cash paid out.

Parameter	Description
Rate	Double representing the interest rate per period. If the periods are monthly, be sure to normalize annual rates by dividing them by 12.
Pmt	Double representing the amount of each payment or income. Income is represented by positive values, whereas payments are represented by negative values.
Pv	Double representing the present value of your annuity. In the case of a loan, the present value would be the amount of the loan, and the future value (see below) would be zero.
Fv	Double representing the future value of your annuity. In the case of a loan, the future value would be zero, and the present value would be the amount of the loan.
Due	Integer indicating when payments are due for each payment period. A 0 specifies payment at the end of each period, whereas a 1 indicates payment at the start of each period.

See Also

FinIPmt, FinPmt, FinPPmt, FinRate.

Example

Sub Main
'This example calculates the number of $100.00 
'monthly payments necessary to accumulate 
'$10,000.00 at an annual rate of 10%. Payments are 
'made at the beginning of the month.
 
    ag# = NPer((.10/12),100,0,10000,1)
    MsgBox "The number of monthly periods is:" & _
				Format(ag#,"Standard")
End Sub