What is nper in excel?

In Excel, the NPER function is used to calculate the number of periods required to pay off a loan or investment, based on a fixed interest rate, periodic payment, and present value.

The syntax for the NPER function is: =NPER(rate, pmt, pv, [fv], [type])

• rate: The interest rate for each period.
• pmt: The payment made each period. It remains constant throughout the entire series of payments.
• pv: The present value, or the total amount that a series of future payments is worth now.
• [fv]: Optional. The future value or cash balance after the last payment is made. If omitted, it is assumed to be 0.
• [type]: Optional. Indicates whether the payment is due at the beginning (1) or end (0) of the period. If omitted, it is assumed to be 0.

The NPER function returns the number of payment periods for an investment or loan, based on the specified interest rate, payment amount, and present value.

It is useful for financial planning, as it helps in determining how long it will take to pay off a loan or reach a financial goal.