Microsoft Office Tutorials and References
In Depth Information
Syntax
Syntax
IPMT(rate,per,nper,pv,fv,type)
Tip
To generate the column of numbers starting in A9, enter the formula
=ROW(1:1) in cell A9. When you copy this formula down, the 1:1 ref-
erence changes to 2:2, 3:3, and so on. This is a fast way to generate a
column of sequential numbers using a single formula. Alternatively,
use =ROW(A1) for the same result.
The IPMT function returns the interest payment for a given period for an in-
vestment, based on periodic, constant payments and a constant interest rate.
This function takes the following arguments:
rate
rate This is the interest rate per period.
per
per This is the period for which you want to find the interest and
must be in the range 1 to nper.
nper
nper This is the total number of payment periods in an annuity.
ppv This is the present value, or the lump-sum amount that a series
of future payments is worth right now.
ffv This is the future value, or a cash balance you want to attain
after the last payment is made.
Note
You may encounter an old worksheet that uses ISPMT, which is the
Lotus 1-2-3 version of IPMT. For details on ISPMT, see Excel Help.
For new worksheets, you should use IPMT instead of ISPMT.
type This is either 0 or 1 to indicate when payments are due. The de-
fault value of 0 assumes that payments are due at the end of the
period. A value of 1 means the payments are due at the beginning of
each period.
The IPMT function is similar to the PPMT function. Combined, they can cre-
ate a simple amortization table (refer to Figure 13.7 ).
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