# NPER( ) function

Returns the number of periods required to pay off a loan.

## Syntax

`NPER(rate, payment, amount <,type>)`

## Parameters

rate

Numeric. The interest rate per period.

payment

Numeric. The payment per period.

amount

Numeric. The amount of the loan.

type

Optional. Numeric constant. Specifies whether payments are due at the beginning or end of the period. Use the default of 0 for payments that are due at the end of a period. Use 1 for payments that are due at the beginning of a period.

Numeric.

## Remarks

This function calculates the number of periods that are required to pay off a loan. For example, if you are paying \$500 a month on a car loan, you can use this function to determine when the debt will be cleared.

## Example

Comparing monthly payment times

To calculate the number of periods that it takes to repay a \$1,000 loan at 8 percent interest with payments of \$50 at the end of each month:

NPER(0.08/12, 50, 1000)

The loan will be paid in 21.54 months.

To calculate the number of periods that it takes to repay a \$1,000 loan at 8 percent interest with payments of \$50 at the beginning of each month:

NPER(0.08/12, 50, 1000, 1)

The loan will be paid in 21.38 months.