This function calculates the payment of interest on a loan.
IPMT(rate,per,nper,pval,fval,type)
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) |
The result is represented by a negative number because it is money paid out by you.
Accepts numeric data for all arguments. Returns numeric data.
IPMT(0.65,A1,B3,C42)
IPMT(R1C1,R12C12,R13C13,R32C1)
IPMT(0.45, 2, 30, 6000) gives the result -$2,699.98