IPMT( ) function

Returns the interest paid on a loan for a single period.

Syntax

IPMT(rate, specified_period, periods, amount <,type>)

Parameters

Name	Type	Description
rate	numeric	The interest rate per period.
specified_period	numeric	The period for which you want to find the interest payment.
periods	numeric	The total number of payment periods.
amount	numeric	The principal amount of the loan.
type optional	numeric	The timing of payments: 0 – payment at the end of a period 1 – payment at the beginning of a period If omitted, the default value of 0 is used.

Note

You must use consistent time periods when specifying rate and periods to ensure that you are specifying interest rate per period.

For example:

for monthly payments on a two-year loan or investment with interest of 5% per annum, specify 0.05/12 for rate and 2 * 12 for periods
for annual payments on the same loan or investment, specify 0.05 for rate and 2 for periods

Output

Numeric.

Examples

Basic examples

Returns 1489.58, the interest paid in the first month of a twenty-five year, $275,000 loan at 6.5% per annum, with payments due at the end of the month:

IPMT(0.065/12, 1, 12*25, 275000, 0)

Returns 10.00, the interest paid on the same loan in the last month of the loan:

IPMT(0.065/12, 300, 12*25, 275000, 0)

Remarks

Related functions

The PPMT( ) function is the complement of the IPMT( ) function.

The CUMIPMT( ) function calculates interest paid during a range of periods.

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ACL Scripting Guide 14.1