| IPmt Function |
Named Arguments
Yes
Syntax
IPmt(rate, per, nper, pv[, fv[, type]])
rate
Use: Required
Data Type: Double
The interest rate per period.
per
Use: Double
Data Type: Any valid numeric expression
The period for which a payment is to be computed.
nper
Use: Double
Data Type: Any valid numeric expression
The total number of payment periods.
pv
Use: Double
Data Type: Any valid numeric expression
The present value of a series of future payments.
fv
Use: Optional
Data Type: Variant
The future value or cash balance after the final payment. If omitted, the default value is 0.
type
Use: Optional
Data Type: Variant
A value indicating when payments are due. indicates that payments are due at the beginning of the payment period; 1 indicates that payments are due at the end of the period. If omitted, the default value is 0.
Return Value
A Double representing the interest payment.
Description
Computes the interest payment for a given period of an annuity based on periodic, fixed payments and a fixed interest rate. An annuity is a series of fixed cash payments made over a period of time. It can be either a loan payment or an investment.
Rules at a Glance
The value of per can range from 1 to nper.
If pv and fv represent liabilities, their value is negative; if assets, their value is positive.
Example
The ComputeSchedule function accepts a loan amount, an annual percentage rate, and a number of payment periods. It uses the Pmt function to calculate the payment per period, then returns ...
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