Microsoft Office Tutorials and References
In Depth Information
Using IPMT to Calculate the Interest Portion of a Loan Payment for Any Month
Figure 13.7.
Figure 13.7. Similar
Similar PPMT
PPMT functions in B9:B56 calculate the monthly prin-
functions in B9:B56 calculate the monthly prin-
cipal portion of the loan payment.
cipal portion of the loan payment.
Using
Using IPMT
IPMT tto Calculate
Calculate the
the Interest
Interest Portion
Portion oof a Loan
Loan Payment
Payment for
for Any
Any
Month
Month
Whereas the PPMT function calculates the principal payment for any month
of a loan, the IPMT function calculates the interest portion of the payment.
The results of IPMT are shown in column C of Figure 13.7 .
Note
In this example, the interest component could be calculated with either
PMT PPMT or using the IPMT function. IPMT is discussed in the next
section.
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