Skip to content
Google Sheets

IPMT function in Google Sheets

Calculates the payment on interest for an investment based on constant-amount periodic payments and a constant interest rate.

=IPMT(rate, period, number_of_periods, present_value, [future_value], [end_or_beginning])

IPMT syntax and parameters

Six arguments, four required.

  • ratenumberRequired

    The interest rate.

  • periodnumberRequired

    The amortization period, in terms of number of periods. period must be at least 1 and at most number_of_periods.

  • number_of_periodsnumberRequired

    The number of payments to be made.

  • present_valuenumberRequired

    The current value of the annuity.

  • future_valuenumberOptional

    [ OPTIONAL ] - The future value remaining after the final payment has been made.

  • end_or_beginningnumberOptional

    [ OPTIONAL - 0 by default ] - Whether payments are due at the end (0) or beginning (1) of each period.

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 Excel

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.

Loading the editor…

Related functions

More ways Google Sheets gets this done.