Now let’s reverse the scenario mentioned in the previous question. So we know the target amount, rate of interest and future value and we need to find how much period it will take to reach that future value. This can be achieved by using the ‘nper’ function. Below figure ‘nper’ in action shows what we need to feed in and the output for the same.
Figure: - Nper in action
Note: - One of the points you can see in the ‘nper’ function is the negative ‘pmt’. In excel when money flows out we mark it as negative and when money flows in we mark it as positive.