6.1.2.6.1.3 IPmt

Function Declaration

 Function IPmt(Rate As Double, Per As Double, 
               NPer As Double, PV As Double, 
               Optional FV As Variant, 
               Optional Due As Variant) As Double 

Parameter	Description
Rate	Double data value specifying interest rate per period. For example, given a car loan at an annual percentage rate (APR) of 10 percent and making monthly payments, the rate per period is 0.1/12, or 0.0083.
Per	Double data value specifying payment period in the range 1 through NPer.
NPer	Double specifying total number of payment periods in the annuity. For example, if you make monthly payments on a four-year car loan, your loan has a total of 4 * 12 (or 48) payment periods.
Pv	Double data value specifying present value, or value today, of a series of future payments or receipts.
Fv	Double data value specifying future value or cash balance desired after final payment has been made. For example, the future value of a loan is $0 because that's its value after the final payment. However, if someone wants to save $50,000 over 18 years for their child's education, then $50,000 is the future value. If omitted, the data value 0.0 is assumed.
Due	Integer data value specifying when payments are due. Use the data value 0 if payments are due at the end of the payment period, or use the data value 1 if payments are due at the beginning of the period. If omitted, the data value 0 is assumed.

 

Runtime Semantics.

§ Returns a Double specifying the interest payment for a given period of an annuity based on periodic, fixed payments and a fixed interest rate.

§ The Rate and NPer arguments MUST be calculated using payment periods expressed in the same units. For example, if Rate is calculated using months, NPer MUST also be calculated using months.

§ For all arguments, cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.