The IPMT function calculates the interest payment for an investment or loan for a given period.

IPMT takes 4 required arguments and 2 optional arguments:

Syntax: IPMT(rate, per, nper, pv, [fv], [type])

#1)
Using the IPMT function with only the required arguments:
#2)
Using the IPMT function with the optional arguments:
#3)
The arguments for the IPMT function are:
Argument Required? Description
rate Required The interest rate per period.
per Required Specifies the period and must be in the range 1 to nper.
nper Required The total number of payment periods in an annuity.
pv Required The present value — the total amount that a series of future payments is worth now.
fv Optional The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
type Optional The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0:
Possible type argument values:

Summary

The IPMT function calculates the interest payment for an investment or loan for a given period.
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