NPER

Definition: NPER is a function that calculates the number of payment periods for a loan or investment.

Syntax: =NPER(rate, payment, present_value, [future_value], [type])

Situation: This formula is appropriate when you need to calculate the number of payment periods for a loan or investment.

Example: If you want to find the number of months required to pay off a loan of $10,000 with an interest rate of 5% per year and a monthly payment of $200, the formula =NPER(5%/12, 200, 10000) can be used, which returns 63.85 months.