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WorksheetFunction.Ipmt Method (Excel)

Office 2013 and later
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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.

expression .Ipmt(Arg1, Arg2, Arg3, Arg4, Arg5, Arg6)

expression A variable that represents a WorksheetFunction object.

Parameters

Name

Required/Optional

Data Type

Description

Arg1

Required

Double

Rate - the interest rate per period.

Arg2

Required

Double

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

Arg3

Required

Double

Nper - the total number of payment periods in an annuity.

Arg4

Required

Double

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

Arg5

Optional

Variant

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

Optional

Variant

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

Return Value

Double

Set type equal to

If payments are due

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.

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