Explanation

TheNPER functionreturns the number of periods for loan or investment.

An annuity is a series of equal cash flows, spaced equally in time.

Payments are made annually, at the end of each year.

Excel formula: Future value of annuity

Note both payment and present value are entered as negative values, since these are cash outflows.

Future value of annuity

Future value vs.

Excel formula: Future value vs. Present value

Excel formula: Present value of annuity

Excel formula: Payment for annuity

Excel PMT function

Excel PV function

Excel FV function