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PDURATION Function
Summary
The PDURATION function calculates the number of periods needed for an investment to grow from its present value to a target future value at a constant interest rate. It's essential for financial planning and investment analysis.
Syntax
PDURATION(rate, pv, fv)Parameters
| Parameter | Type | Required | Description |
|---|---|---|---|
| rate | Number |
Yes | Interest rate per period (e.g., 0.025 for 2.5%) |
| pv | Number |
Yes | Present value of the investment (must be positive) |
| fv | Number |
Yes | Desired future value of the investment (must be positive) |
Using the PDURATION Function
PDURATION is perfect for investment analysis scenarios where you need to determine how long it will take for savings or investments to reach specific goals. Use it with annual rates for yearly projections or divide by 12 for monthly compounding analysis.
Common PDURATION Examples
Annual Investment Growth
=PDURATION(2.5%,2000,2200)Calculates years needed for $2,000 investment at 2.5% annual rate to reach $2,200 (result: 3.86 years)
Monthly Compounding Analysis
=PDURATION(0.025/12,1000,1200)Calculates months needed for $1,000 investment at 2.5% annual rate (monthly compounding) to reach $1,200 (result: 87.6 months)
Frequently Asked Questions
Common Errors and Solutions
#NUM!
Cause: Any argument is negative or rate equals zero
Solution: Ensure all values are positive and rate > 0
#VALUE!
Cause: Non-numeric arguments provided
Solution: Verify all inputs are valid numbers
Notes
- All arguments must be positive numbers
- Uses continuous compounding formula
- Result represents full periods needed
- Excel 2013+ and Microsoft 365 only
Compatibility
Available in: Excel 2013, Excel 2016, Excel 2019, Excel 2021, Microsoft 365
Not available in: Excel 2010, Excel 2007, Excel 2003, Earlier versions
Content last reviewed: December 9, 2025
Update frequency: As needed
Excel versions tested: Excel 2013+