IPMT function can be used to calculate the interest portion of a given loan payment in a given payment period. For example, you can use IPMT to get the interest amount of a payment for the first period, the last period, or any period in between.
Purpose of Excel IPMT Function
Get interest in given period.
The interest amount.
=IPMT (rate, per, nper, pv, [fv], [type])
|rate||The interest rate per period||Mandatory|
|per||The payment period of interest||Mandatory|
|nper||The total number of payment periods||Mandatory|
|pv||The present value, or total value of all payments now||Mandatory|
|fv||The cash balance desired after last payment is made. Defaults to 0.||Optional|
|type||When payments are due. 0 = end of period. 1 = beginning of period. Default is 0||Optional|
- Be consistent with inputs for rate. For example, for 5-year loan with 4.5% annual interest, enter the rate as 4.5%/12.
- By convention, the loan value (pv) is entered as a negative value
Since 2007 for Windows.
Since 2011 for Mac.