Fnper()

Description:

The function equals the Excel NPER function.

Syntax:

Fnper(rate,pmt,pv,fv)

Note:

The function returns the number of periods required to pay off a loan according to a specified periodic payment.

Parameters:

rate

The interest rate per period; it is a fixed value.

pmt

The amount paid per period, which keeps unchanged during the whole period of paying off the loan. To omit it, pv must exist.

pv

The present value of the loan, known as the principal.That is the money that already exist when the payment for an investment (or a loan) begins, or the total amount of present values of a series of future payments.

fv

The future value of the loan, or the cash balance you hope to achieve after the final payment. If omitted, its value will be assumed as zero (for example the future value of a loan can be zero).

Options

@t

Indicating the payment type, it corresponds to Excel type parameter. If using the option, choose type 1; if not, choose type 0.

Example:

Fnper(0.06/12,-1200,150000)

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