IPmt

Basic and Crystal syntax.

Overloads
Arguments
Returns

Number value

Action

IPmt returns a Number specifying the interest payment for a given period of an annuity based on periodic, fixed payments and a fixed interest rate.

Examples

The following example is applicable to both Basic and Crystal syntax:

Suppose that you want to take out a $250,000 loan payable monthly over 15 years at an annual interest rate of 7 percent. The following formula returns the amount of interest that you pay in your first loan payment. Note that the monthly interest rate is 0.07 / 12 and the number of months of the loan is 15 * 12.

IPmt (0.07 / 12, 1, 15 * 12, 250000)

Returns the Number value -1458.33 (rounded to 2 decimals). The value is negative because it represents a payment out from you whereas the loan amount of $250,000 is positive because it represents a payment in to you.

The following formula returns the amount of interest that you pay in your 121st payment (after 10 years of payments):

IPmt (0.07 / 12, 10*12 + 1, 15 * 12, 250000)

Returns -661.98 (rounded to 2 decimals). You've made progress on the loan and so less of your monthly payment is for paying interest.

Comment

This function is designed to work like the Visual Basic function of the same name.



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