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Formula Functions / Functions H to L / IPMT
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    IPMT
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    This function calculates the payment of interest on a loan.

    Syntax

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

    Arguments

    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)

    Remarks

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

    Data Types

    Accepts numeric data for all arguments. Returns numeric data.

    Examples

    IPMT(0.65,A1,B3,C42)

    IPMT(R1C1,R12C12,R13C13,R32C1)

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

    Version Available

    This function is available in product version 1.0 or later.

    See Also

    PMT | PPMT | RATE | Financial Functions