I had an extra right-parenthesis in some formulas below. AXRussell wrote: Does anyone know the mathematical formula behind the Excel NPER function?

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1. How To Enter Pmt Formula In Excel

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Why do you ask? School assignment? Idle curiosity?

Something else? The PV help page () [1] documents the formula: It is important to note that 'pv', 'fv' and 'pmt' are signed cash flows; for example, negative for outflows, and positive for inflows. Also note that 'rate' is the periodic rate per unit of 'n'. For example, if 'n' represents months and the annual rate is 12%, the monthly rate is 1% (12%/12) or about 0.94888% [2], depending on how monthly interest rates are annualized for your purposes. Finally, in that formula, 'type' is presumed to be zero (payments at the end of periods) or one (payments at the beginning of periods). But any non-zero 'type' is interpreted as one.

So solving that formula for 'nper', the usage is demonstrated as follows: The formula in B7 is =NPER(B1,B2,B3,B4,B5). It is provided as a check of the formula below. The formula in B6 is: =IF( B1=0, -(B3+B4)/B2, LOG( (B2 * (1+B1*(B50)) - B4*B1) / (B3*B1 + B2*(1+B1*(B50))) ) / LOG(1+B1) ) or stylistically: =IF( rate=0, -(pv+fv)/pmt, LOG( (pmt * (1+rate*(type0)) - fv*rate) / (pv*rate + pmt*(1+rate*(type0))) ) / LOG(1+rate) ) That's a mouthful! We can simplify if we know that 'rate' is non-zero and 'type' is zero or non-zero: type=0: =LOG( (B2 - B4*B1) / (B3*B1 + B2) ) / LOG(1+B1) or =LOG( (pmt - fv*rate) / (pv*rate + pmt) ) / LOG(1+rate) type0: =LOG( (B2*(1+B1) - B4*B1) / (B3*B1 + B2*(1+B1)) ) / LOG(1+B1) or =LOG( (pmt*(1+rate) - fv*rate) / (pv*rate + pmt*(1+rate)) ) / LOG(1+rate) Note that B4 (fv) is typically zero, which leads to further simplication: the expression -B4*B1 can be omitted. You might note that the calculated 'nper' is not exactly 360 in either case (B6 and B7). The primary reason is: we rounded 'fv' to simplify the example. But even if we hadn't, 'nper' might not be an exact integer due to anomalies of binary arithmetic.

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----- [1] [2] (1+12%)^(1/12) - 1 = 0.58305%.

How To Enter Pmt Formula In Excel

By Excel offers more than four hundred different functions to give you increased functionality for crunching the numbers on your iPad or Mac. Here are ten of the more interesting and useful functions you can use with Excel. AVERAGE for averaging data Might as well start with an easy one. The AVERAGE function averages the values in a cell range. Here, AVERAGE is used to compute the average rainfall in a three‐month period in three different counties. Use AVERAGE as follows: AVERAGE(cell range) Excel ignores empty cells and logical values in the cell range; cells with 0 are computed. The COUNT (above) and COUNTIF (below) function at work.