Excel NPER Function

This Excel Tutorial demonstrates how to use the Excel NPER Function in Excel to calculate the number of periods for an investment, with formula examples.

NPER Function Description:

The NPER Function Calculates the total number of payment periods.

Formula Examples:

nper function examples

End of Period Payment=NPER(C5,D5,E5,F5)4
Beg of Period Payment=NPER(C6,D6,E6,F6,G6)4

Syntax and Arguments:

The Syntax for the NPER Formula is:

Function Arguments ( Inputs ):

rate – The interest rate per period. Example: use 8%/2 = 4% for semi-annual payments at 8% APR.

pmt – The payment amount. Payment must remain constant.

pv – The present value. 0 if ommitted.


type – The payment type. 1 for beginning of period. 0 for end of period (default if ommitted).

Additional Notes

Use the NPER Function to calculate the number of payment periods of an investment.

For PMT, cash out-flows must be negative. Cash In-flows must be positive.

NPER Examples in VBA

You can also use the NPER function in VBA. Type:
For the function arguments (rate, etc.), you can either enter them directly into the function, or define variables to use instead.

Return to the List of all Functions in Excel

How to use the NPER Function in Excel:

To use the AND Excel Worksheet Function, type the following into a cell:
After entering it in the cell, notice how the AND formula inputs appear below the cell:
nper formula syntax
You will need to enter these inputs into the function. The function inputs are covered in more detail in the next section. However, if you ever need more help with the function, after typing “=NPER(” into a cell, without leaving the cell, use the shortcut CTRL + A (A for Arguments) to open the “Insert Function Dialog Box” for detailed instructions:
how to use the nper function in excel

For more information about the NPER Formula visit the
Microsoft Website.


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