Number of Periodic Payments (nper)
Calculate the number of periodic payments needed based on initial, future values, interest rate, and payment intervals.
Number of Periodic Payments
Purpose
This function calculates the number of periodic payments needed to reach a certain financial goal based on user input.
Use Cases
- Planning for retirement savings
- Calculating loan repayment periods
How to Use
- Enter the required financial details in the input fields.
- Click on the "Calculate" button to get the result.
Input Values
- Present Value: The current amount of money you have.
- Future Value: The desired amount of money you want to achieve.
- Interest Rate: The rate at which your money grows annually (default unit is percent per year).
- Periodic Payment: The amount of money you will deposit or withdraw periodically.
- Payment Interval: The frequency at which you make payments (e.g., monthly, quarterly).
- Payment When: The timing of the payment (e.g., at the beginning or end of the period).
Output Values
- Number of Periods: The total number of periods required to reach the financial goal.
- Number of Years: The equivalent number of years based on the payment interval.
- Total Payment: The total amount of money paid over the calculated period.
Any other Instruction
- Ensure all input values are accurate to get a precise result.
- Review the calculated values to plan your financial goals effectively.
Code Analysis
- Calculate the interest rate based on the given input.
- Use the numpy financial library to calculate the number of periods required.
- Return the calculated values including the number of periods, number of years, and total payment.
Technical Parameters
present_value, pv_part, future_value, fv_part, interest_rate, periodic_payment, pp_part, payment_interval, payment_when
Return Values
Number of Periods, Number of Years, Total Payment
Example Expressions
You can use the following expressions to directly evaluate in a non-interactive manner using eva()
:
eva(nper(present_value=50000, future_value=100000, interest_rate='5 pct/yr', periodic_payment=2000, payment_interval='yr', payment_when='1'))
eva(nper(present_value=100000, future_value=200000, interest_rate='8 pct/yr', periodic_payment=1500, payment_interval='mo', payment_when='1'))
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