In This Topic

IPMT

In This Topic

This function calculates the payment of interest on a loan.

IPMT(*rate*,*per*,*nper*,*pval*,*fval*,*type*)

This function has these arguments:

Argument | Description |
---|---|

rate |
Value of interest rate per period. |

per |
Number of the period for which to find the interest, between 1 and nper |

nper |
Total number of payment periods in an annuity. |

pval |
Present value, worth now |

fval |
[Optional] Future value, cash value after the last payment; if omitted, the calculation uses zero |

type |
[Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0) |

The result is represented by a negative number because it is money paid out by you.

Accepts numeric data for all arguments. Returns numeric data.

IPMT(0.65,A1,B3,C42)

IPMT(R1C1,R12C12,R13C13,R32C1)

IPMT(0.45, 2, 30, 6000) gives the result -$2,699.98

See Also