[Table of Contents] [docx version]

SpreadsheetML Reference Material - Table of Contents

IPMT

Syntax:

IPMT ( rate , per, nper , pv , [ fv ] [ , [ type ] ] )

Description: Computes the interest payment for a given period for an investment based on periodic, constant payments and a constant interest rate.

Arguments:

Name

Type

Description

rate

number

The interest rate.

per

number

The period for which the interest is to be found, and shall be in the range 1–nper.

nper

number

The total number of payment periods in an annuity.

pv

number

The present value, or the lump-sum amount that a series of future payments is worth right now.

fv

number

The future value, or a cash balance to be attained after the last payment is made. If omitted, it is assumed to be 0 (i.e., the future value of a loan, for example, is 0).

type

number

The timing of the payment, truncated to integer, as follows:

Value

Timing

0

Payment at the end of the period

1

Payment at the beginning of the period

 

 

Arguments representing cash paid by investor shall be expressed as negative numbers; arguments representing cash received by the investor shall be expressed as positive numbers.

Return Type and Value: number – The interest payment for a given period for an investment based on periodic, constant payments and a constant interest rate.

However, if type is any number other than 0 or 1, #NUM! is returned.

[Example:

IPMT(0.1/12,1*3,3,8000) results in -22.41
IPMT(0.1,3,3,8000) results in -292.45

end example]