We use the **NPER function** in combination with the **PV, PMT** and** RATE** **functions** to calculate the number of installment paid within a period. This article will walk through the process.

*Figure 1 – Final result of the NPER function using the PV, PMT, and RATE function.*

**General Formula**

**=NPER(rate, pmt, pv)**

**Formula**

**=NPER(C6/12,C7,-C5)**

**Setting up the Data**

We will set up our table as shown in figure 2, with hypothetical players including the Loan amount, interest rate, Monthly payment, compounding periods. We intend to get the number of periods for loan or investment.

- We will place the parameters in the
**range: B5:B8.** - The figures will be contained in
**Column C** - The result will be named “
**Period (terms in months)”**and displayed in**Cell B10**and**C10**

* Figure 2 – Setting up the Data*

**Using the NPER function**

- We will click on
**Cell C10** - We will insert the formula below into
**Cell C10**

**=NPER(C6/12,C7,-C5)**

* Figure 3 – Using the Excel NPER function*

- We will press the
**enter**key.

*Figure 4 – Result of using the NPER function*

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