FINANCE NPER Function
Computes the number of periods for an investment.
| Category: | Financial |
|---|
Syntax
Arguments
rate
specifies the interest rate.
payment
specifies the payment that is made each period; the payment cannot change over the life of the annuity. Typically, payment contains principal and interest but no other fees or taxes. If payment is omitted, you must include the pv argument.
pv
specifies the present value or the lump-sum amount that a series of future payments is worth currently. If pv is omitted, it is assumed to be 0 (zero), and you must include the payment argument.
fv
specifies the future value or a cash balance that you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (for example, the future value of a loan is 0).
type
specifies the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
If payments are due at the end of the period, then either omit the type argument or set it to 0. If payments are due at the beginning of the period, then set type to 1.
Example: Computing Description: NPER
The following example computes the number of periods for an investment.
data _null_;
rate=0.08;
payment=200;
pv=1000;
fv=0;
type=0;
r=finance('nper', rate, payment, pv, fv, type);
put r=;
run;These statements produce this result:
r=−4.371981351