TERM

**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*

Grey Trout Software

02 March 2003