WorksheetFunction.Ipmt(Double, Double, Double, Double, Object, Object) Method
Definition
Important
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Returns the interest payment for a given period for an investment based on periodic, constant payments and a constant interest rate.
public double Ipmt (double Arg1, double Arg2, double Arg3, double Arg4, object Arg5, object Arg6);Public Function Ipmt (Arg1 As Double, Arg2 As Double, Arg3 As Double, Arg4 As Double, Optional Arg5 As Object, Optional Arg6 As Object) As DoubleParameters
- Arg1
- Double
Rate - the interest rate per period.
- Arg2
- Double
Per - the period for which you want to find the interest and must be in the range 1 to nper.
- Arg3
- Double
Nper - the total number of payment periods in an annuity.
- Arg4
- Double
Pv - the present value, or the lump-sum amount that a series of future payments is worth right now.
- Arg5
- Object
Fv - 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).
- Arg6
- Object
Type - the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
Returns
Remarks
| 0 | At the end of the period |
| 1 | At the beginning of the period |
Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 12% for rate and 4 for nper.
For all the arguments, cash you pay out, such as deposits to savings, is represented by negative numbers; cash you receive, such as dividend checks, is represented by positive numbers.