Calculating the number of periods Calculating the number of payments or periods in a financial transaction is very critical since it gives you an idea of how much time would it take to accrue a certain amount of savings, to repay a certain length of loan etc. There are mathematical solutions that can be used to solve for the number of periods (N), and Excel can make this task fairly easy and precise, The syntax of the Excel function that returns the number of periods for an investment based on a periodic, constant payments at a certain rate of interest is: ONPER (rate, pmt, pv, (fv), [type]) TIMEVALUE (time_text) O LOOKUP(look value, lookup_vector, [result_vector]) NPV(rate, value1, [value2]...) Which of the arguments in the function to solve for number of periods are relevant and required? Check all that apply. valuel look value rate pv type Applying the functions to derive desired values Suppose you get a job offer from one of your dream companies and they are paying you within the range you would want your salary to be. Lets take this amount to be $45,000 per year. You are confident that working in this company would help you grow and charter a career path that you would like to pursue. You are curious to know that if your salary increases at the rate of 9.0% per year, how many years would it take to double your salary? B A 1 2 Salary $45,000 3 Growth rate 9.0% 4 Future salary 5 Calculate number of years N 6 In addition to your dream job, suppose you also took up freelance work which helped you earn an additional $7,000 per year. How many years would it now take you to reach to the salary level you desire to earn? A Same data as above Additional income per year $7,000 Number of years with additional income N 7 8 9 10 $