# annuterm

Number of periods to obtain value

## Syntax

```NumPeriods = annuterm(Rate,Payment,PresentValue,FutureValue,Due)
```

## Arguments

 `Rate` Interest rate per period, as a decimal fraction. `Payment` Payment per period. `PresentValue` Present value. `FutureValue` (Optional) Future value. Default = `0`. `Due` (Optional) When payments are due: `0` = end of period (default), or `1` = beginning of period.

## Description

`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.

## Examples

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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 ```