Syntax: TERM(P, R, FV)
P = amount of periodic payments
R = interest rate
FV = future value of the investment
TERM returns the number of payment periods for an
investment given the periodic payment P, the interest
rate R and future value FV. The function is given by:
Examples:
TERM(1050, 0.105, 300000) = 34.39
TERM(R13, RATE, S19) = 16.48, where R13 = 360, S19 = 15000, and RATE is a named cell = 11%
TERM(100, 0.095, -1) = error!, ``P'' and ``FV'' must have the same sign
Excel function: N/A