# Calculating The Duration To Complete A Loan

## Overview:

• Given the values for the interest rate, payment amount(due, installment, periodic payment amount) and the net present value towards a loan, the number of payments required to complete the loan payment is calculated by the nper() function of numpy.

## Example:

 # Example Python program that calculates # the number of payments required to complete # the payment for a loan   import numpy as np   compoundingFrequency    = 1; # Once in 12 months interestRatepercent     = 7;   outstandingLoanAmount   = 75000;   periodicPayment         = 1200;     numberOfPayments    = np.nper((interestRatepercent/100)/12, -periodicPayment,                               outstandingLoanAmount); paymentMonths       = np.round(numberOfPayments, 3);                    print("Number of months required to complete the loan payment:");                              print(paymentMonths);

## Output:

 Number of months required to complete the loan payment: 77.965