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Excel

IPMT function in Excel

Returns the interest payment for an investment for a given period

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

IPMT syntax and parameters

Six arguments, four required.

  • ratenumberRequired

    The interest rate per period.

  • pernumberRequired

    The period for which you want to find the interest and must be in the range 1 to nper.

  • npernumberRequired

    The total number of payment periods in an annuity.

  • pvnumberRequired

    The present value, or the lump-sum amount that a series of future payments is worth right now.

  • fvnumberOptional

    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 (the future value of a loan, for example, is 0).

  • typenumberOptional

    The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.

IPMT examples

Formulas you'll actually reuse.

  1. First month's interest share of a $250k, 30-year mortgage:

    =IPMT(5%/12, 1, 360, -250000)

    Result1041.67

  2. Interest share in month 120 — watch it fall as principal shrinks:

    =IPMT(5%/12, 120, 360, -250000)

    Result849.35

IPMT in Google Sheets

Same name — your formula ports as-is.

Try IPMT in the playground

Edit the example — nothing to install.

Preloaded with the IPMT formula from Example 1 — change anything and watch it respond.

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Related functions

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