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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

 

See Also

PMT

PPMT

RATE