NPer returns a Number specifying the number of periods for an annuity based on periodic, fixed payments and a fixed interest rate.
The following examples are applicable to both Basic and Crystal syntax:
Suppose that you want a $200,000 loan to buy a house. The interest rate is 7 percent and you can afford to pay $2500 per month. How long of a mortgage do you need?
Returns 108.08 (rounded to 2 decimals) months. That is 108.08 / 12 = 9 years.
Rather than seeking a loan, suppose that you want to save up $200,000 and then buy the house. You can get a 7 percent interest rate compounded monthly from your savings plan and want to save $2500 per month. How long will you need to save to have the money?
NPer (0.07/12,
Returns 65.85 (rounded to 2 decimals) months. That is about 5.5 years.
This function is designed to work like the Visual Basic function of the same name.
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