IPMT

Returns the interest payment for a given period for an investment with constant periodic payments and a fixed interest rate.

Syntax

IPMT(rate; period; nper; pv; [fv]; [type])

rate: The interest rate per period. Eg., 0.5

period:The period that you want to calculate the interest payment for, numbered from 1. Eg., 3

nper: The total number of payment periods in the term. Eg., 15

pv: The initial sum borrowed or invested. Eg., 50000

fv: The cash balance you wish to attain at the end of the term. This defaults to 0 when omitted. With a loan, the future_value would normally be 0. Eg.,3

type: When the payments are to be made. Defaults to 0 when omitted:
0 - at the end of each period.
1 - at the start of each period (including a payment at the start of the term).

Examples

Formula	Result
=IPMT(A2;B2;C2;D2;E2;F2)	-24928.472334615
=IPMT(A3;B3;C3;D3;E3;F3)	-179.861799647
=IPMT(A4;B4;C4;D4;E4;F4)	-2247541.2402915

Get a hands-on experience of the function in the embedded range below.

Possible Errors

Errors	Meaning
#N/A!	The function could not find the value it was asked to look for. Commonly occurs in VLOOKUP and similar functions.
#NAME!	The function name is incorrect or invalid. The given defined name (if any) is invalid. There is a typo in the defined name used in the function. Double quotes are missing for text values in the function. Colon missing in a cell range reference.
#VALUE!	The given argument's data type is incorrect or invalid. For example, the function =DATE(A1:A3) will return a #VALUE error when a text value is present in the range.
#REF!	The given cell reference is incorrect or invalid. This error may occur when a cell/range has been deleted, moved. or pasted over.

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