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# NPer

> Use the Sigma NPer function to return the number of periods for a loan or investment based on known amount, interest rate, and periodic payment.

The **NPer** function returns the number of periods for a loan or investment based on known amount, interest rate, and periodic payment amount.

**NPer** is part of the set of financial functions that Sigma supports.

## Syntax

```
NPER(rate, pmt, pv, [fv], [type])
```

The **NPer** function has the following arguments:

<dl>
  <dt>
    rate
  </dt>

  <dd>
    Required.
  </dd>

  <dd>
    The interest rate per period.
  </dd>

  <dt>
    pmt
  </dt>

  <dd>
    Required
  </dd>

  <dd>
    The payment for each period.
  </dd>

  <dt>
    pv
  </dt>

  <dd>
    Required
  </dd>

  <dd>
    The present value, or total value of all payments made as of the current date.
  </dd>

  <dt>
    fv
  </dt>

  <dd>
    Optional
  </dd>

  <dd>
    The future value, or a cash balance after the last payment.
  </dd>

  <dd>
    Defaults to 0.
  </dd>

  <dt>
    type
  </dt>

  <dd>
    Optional.
  </dd>

  <dd>
    Due date of the payment.

    <dl><dt>0</dt><dd>End of the period</dd><dt>1</dt><dd>Beginning of the period</dd></dl>
  </dd>

  <dd>
    Default is 0.
  </dd>
</dl>

## Examples

```
NPer(0.07/12, 1000, 100000)
```

The number of months it takes to pay off a loan of \$100,000 if the interest rate is 7% and the regular payments are \$1,000 each month is 79, or 6 years and 7 months.

```
NPer(0.07/4, 3000, 100000)
```

The number of quarters it takes to pay off a loan of \$100,000 if the interest rate is 7% and the regular payments are \$3,000 each quarter is 26.49, or about 6 years and 7.5 months.

## Related resources

* [PV](/docs/pv)
* [FV](/docs/fv)
* [Pmt](/docs/pmt)
* <a href="https://support.microsoft.com/en-us/office/nper-function-240535b5-6653-4d2d-bfcf-b6a38151d815" target="_blank" rel="noopener noreferrer">
    NPER function in Microsoft documentation
  </a>