Financial Functions
Advanced
NPER Function
Calculate the number of payment periods using NPER.
Task:
Determine how many months it will take to pay off a $10,000 credit card balance with 18% annual interest, paying $300 per month.
Learning Objectives:
- Learn NPER function
- Understand loan payoff calculations
- Practice debt planning
Hints
Solve without hints for +5 XP
The data in this exercise
This is the grid you start with. Cell references in the task — B6, C2 — point at the row numbers and column letters below.
| A | B | |
|---|---|---|
| 1 | Parameter | Value |
| 2 | Rate | 0.004166666666666667 |
| 3 | Pmt | -1073.64 |
| 4 | Pv | 200000 |
| 5 | Fv | 0 |
| 6 | Type | 0 |
| 7 | NPER |
What this exercise teaches (contains the answer)
The NPER function calculates the number of payment periods needed to pay off a loan or reach an investment goal.