Function Type: Financial
Description:
Returns the interest payment for an investment for a given period.
Function Structure:
=IPMT(rate, per, nper, pv, [fv], [type]).
Argument Breakdown:
rate – The interest rate per period.
per – The period for which you want to find the interest and must be in the range 1 to nper.
nper – The total number of payment periods in an annuity.
pv – The present value, or the lump-sum amount that a series of future payments is worth right now.
fv – The future value, or a cash balance you want to attain after the last payment is made. If pv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).
type – The number 0 or 1 and indicates when payments are due. If type is omitted, It is assumed to be 0.
Example:
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