IPMT

See also A-Z Spreadsheet Function List

Description Returns the interest payment of an annuity for a given period, based on regular payments and a fixed periodic interest rate.

Syntax IPMT(interest, per, nper, pv, [fv], [type])

interest is the fixed periodic interest rate.

per is the period for which to return the interest payment. This number must be between 1 and nper.

nper is the number of payments.

pv is the present value, or the lump sum amount the annuity is currently worth.

fv is the future value, or the value after all payments are made. If this argument is omitted, the future value is assumed to be 0.

type indicates when payments are due. Use 0 if payments are due at the end of the period or 1 if payments are due at the beginning of the period. When you omit this argument, 0 is assumed.

Remarks The units used for interest must match those used for nper. For example, if the annuity has an 8% annual interest rate over a period of 5 years, specify 8%/12 for interest and 5*12 for nper.

         Cash paid out, such as a payment, is shown as a negative number. Cash received, such as a dividend check, is shown as a positive number.

See Also FV , PMT , PPMT , and RATE functions

Examples IPMT(8%/12, 2, 48, 18000) returns -117.87

         IPMT(8%/12, 2, 48, 18000, 0, 1) returns -117.09