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IPmt

Returns the amount of interest paid on a loan over a set period of time.

Note:

Interest rate calculation methods differ from country to country. This function calculates an interest rate based on U.S. interest rate standards.

Syntax

IPmt(n1, n2, n3, n4, n5)

Parameters

 

Parameter	Description
n1	A numeric value or expression representing the principal amount of the loan.
n2	A numeric value or expression representing the annual interest rate of the investment.
n3	A numeric value or expression representing the monthly payment amount.
n4	A numeric value or expression representing the first month in which a payment will be made.
n5	A numeric value or expression representing the number of months for which to calculate.

The function returns an error if either of the following conditions are true:

•	n1, n2, or n3 are negative or 0.

•	Either n4 or n5 are negative.

If any parameter is null, the function returns null. If the payment amount (n3) is less than the monthly interest load, the function returns 0.

Note:

FormCalc follows the IEEE-754 international standard when handling floating point numeric values. For more information, see “Number literals”.

Examples

The following expressions are examples of using the IPmt function:

 

Expression	Returns
IPmt(30000, 0.085, 295.50, 7, 3)	624.8839283142. The amount of interest repaid on a $30000 loan at 8.5% for the three months between the seventh month and the tenth month of the loan’s term.
IPmt(160000, 0.0475, 980, 24, 12)	7103.80833569485. The amount of interest repaid during the third year of the loan.
IPmt(15000, 0.065, 65.50, 15, 1)	0, because the monthly payment is less than the interest the loan accrues during the month.

IPmt