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