Financial Toolbox    
annuterm

Number of periods to obtain value

Syntax

Arguments

Rate
Interest rate per period, as a decimal fraction.
Payment
Payment per period.
PresentValue
Present value.
FutureValue
(Optional) Future value. Default = 0.
Due
(Optional) When payments are due: 0 = end of period (default), or 1 = beginning of period.

Description

NumPeriods = annuterm(Rate, Payment, PresentValue, FutureValue, Due) calculates the number of periods needed to obtain a future value. To calculate the number of periods needed to pay off a loan, enter the payment or the present value as a negative value.

Examples

A savings account has a starting balance of $1500. $200 is added at the end of each month and the account pays 9% interest, compounded monthly. How many years will it take to save $5,000?

See Also

annurate, amortize, fvfix, pvfix


  annurate beytbill