# Financial.NPer(Double, Double, Double, Double, DueDate) Method

## Definition

Important

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Returns a value specifying the number of periods for an annuity based on periodic fixed payments and a fixed interest rate.

`public static double NPer (double Rate, double Pmt, double PV, double FV = 0, Microsoft.VisualBasic.DueDate Due = Microsoft.VisualBasic.DueDate.EndOfPeriod);`

`static member NPer : double * double * double * double * Microsoft.VisualBasic.DueDate -> double`

`Public Function NPer (Rate As Double, Pmt As Double, PV As Double, Optional FV As Double = 0, Optional Due As DueDate = Microsoft.VisualBasic.DueDate.EndOfPeriod) As Double`

#### Parameters

- Rate
- Double

Required. The interest rate per period. For example, if you get a car loan at an annual percentage rate (APR) of 10 percent and make monthly payments, the rate per period is 0.1/12, or 0.0083.

- Pmt
- Double

Required. The payment to be made each period. Payments usually contain principal and interest that does not change over the life of the annuity.

- PV
- Double

Required. The present value, or value today, of a series of future payments or receipts. For example, when you borrow money to buy a car, the loan amount is the present value to the lender of the monthly car payments you will make.

- FV
- Double

Optional. The future value or cash balance you want after you have made the final payment. For example, the future value of a loan is $0 because that is its value after the final payment. However, if you want to save $50,000 over 18 years for your child's education, then $50,000 is the future value. If omitted, 0 is assumed.

- Due
- DueDate

Optional. Object of type DueDate that specifies when payments are due. This argument must be either `DueDate.EndOfPeriod`

if payments are due at the end of the payment period, or `DueDate.BegOfPeriod`

if payments are due at the beginning of the period. If omitted, `DueDate.EndOfPeriod`

is assumed.

#### Returns

The number of periods for an annuity based on periodic fixed payments and a fixed interest rate.

#### Exceptions

`Rate`

= 0 and `Pmt`

= 0

## Examples

This example uses the `NPer`

function to return the number of periods during which payments must be made to pay off a loan whose value is contained in `PVal`

. Also provided are the interest percentage rate per period (`APR / 12`

), the payment (`Payment`

), the future value of the loan (`FVal`

), and a number that indicates whether the payment is due at the beginning or end of the payment period (`PayType`

).

```
Sub TestNPer()
Dim TotPmts As Double
Dim PVal, APR, Payment As Double
Dim PayType As DueDate
Dim Response As MsgBoxResult
' Usually 0 for a loan.
Dim Fval As Double = 0
PVal = CDbl(InputBox("How much do you want to borrow?"))
APR = CDbl(InputBox("What is the annual percentage rate of your loan?"))
' Usually 0 for a loan.
If APR > 1 Then APR = APR / 100
Payment = CDbl(InputBox("How much do you want to pay each month?"))
Response = MsgBox("Do you make payments at the end of month?", MsgBoxStyle.YesNo)
If Response = MsgBoxResult.No Then
PayType = DueDate.BegOfPeriod
Else
PayType = DueDate.EndOfPeriod
End If
TotPmts = NPer(APR / 12, -Payment, PVal, FVal, PayType)
If Int(TotPmts) <> TotPmts Then TotPmts = Int(TotPmts) + 1
MsgBox("It will take you " & TotPmts & " months to pay off your loan.")
End Sub
```

## Remarks

An annuity is a series of fixed cash payments made over a period of time. An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan).

For all arguments, cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.

## Applies to

## See also

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