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]