Number of periods to obtain value
NumPeriods = annuterm(Rate,Payment,PresentValue,FutureValue,Due)
Interest rate per period, as a decimal fraction.
Payment per period.
(Optional) Future value. Default =
(Optional) When payments are due:
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