Syntax: @IPMT(R, P, NP, PV, FV, [T])
R = Interest rate per period
P = The period for which the interest will be calculated (an integer)
NP = The total number of payment periods
PV = The present value of the investment
FV = The future value or a cash balance you would like to
attain at the end of the last period
T = (Optional) timing of the payment:
0 | payment is made at the end of the period |
1 | payment is made at the beginning of the period |
@IPMT returns the interest payment for a specified period for an loan or investment based on periodic, constant payments and a constant interest rate.
Make sure that the units used for R and P are consistent.
For example, for a 5-year loan with 12% annual interest,
if you make payments monthly, use 12%/12 for (monthly) R
and for NP.
Example:
@IPMT(10%/12, 1, 24, 2000, 0, 0) = 16.6667