@nper |

Number of periods for annuity to pay given present value.

Syntax: @nper(r, x, pv[, v, bf])

r: number

x: number

pv: number

v: (optional) number

bf: (optional) number

Return: integer

Find the number of periods n required to receive at least the present value pv from an n-period annuity, with receipts x and discount rate r, and optional receipt of a final lump sum v.

A non-zero value for the optional bf indicates that the receipts are made at the beginning of periods (annuity due) instead of ends (ordinary annuity).

• The present value of by n-periods of ordinary annuity receipts and a final lump sum is:

• The present value of n-periods of annuity due receipts and a final lump sum is:

Then for a given PVO or PVD and annuity type, the function returns the smallest n required to exceed the required value.

Examples

= @nper(0.05, 100, 1000)

returns the value 14.20670, indicating that a 15-period annuity that pays $100 per period has a present value greater than $1000 assuming the discount rate of 5%.

Cross-references