Number of periods to obtain value
NumPeriods = annuterm(Rate, Payment, PresentValue, FutureValue,
Interest rate per period, as a decimal fraction.
Payment per period.
(Optional) Future value. Default = 0.
(Optional) When payments are due: 0 = end of period (default), or 1 = beginning of period.
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.
This example shows a savings account with 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?
NumPeriods = annuterm(0.09/12, 200, 1500, 5000, 0)
NumPeriods = 15.6752