Pduration function

This article describes the formula syntax and usage of the PDURATION function in Microsoft Excel.

Description

Returns the number of periods required by an investment to reach a specified value.

Syntax

PDURATION(rate, pv, fv)

The PDURATION function syntax has the following arguments.

• Rate    Required. Rate is the interest rate per period.

• Pv    Required. Pv is the present value of the investment.

• Fv    Required. Fv is the desired future value of the investment.

PDURATION uses the following equation, where specifiedValue is equal to fv, and currentValue is equal to pv:

Remarks

• PDURATION requires that all arguments are positive values.

• If argument values are not valid, PDURATION returns the #NUM! error value.

• If arguments are not using valid data types, PDURATION returns the #VALUE! error value.

Example

Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

Formula	Description	Result
=PDURATION(2.5%,2000,2200)	The number of years required for an investment of $2,000, earning 2.5% annually, to reach $2,200 (3.86 years).	3.86
=PDURATION(0.025/12,1000,1200)	The number of months required for an investment of $1,000, earning 2.5% annually, to reach $1,200 (87.6 months).	87.6

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