# Excel IPMT Function

Summary

The Excel IPMT function can be used to calculate the interest portion of a given loan payment in a given payment period. For example, you can use IPMT to get the interest amount of a payment for the first period, the last period, or any period in between.

Purpose

Get interest in given period

Return value

The interest amount

Syntax

=IPMT (rate, per, nper, pv, [fv], [type])

Arguments

**rate**- The interest rate per period.**per**- The payment period of interest.**nper**- The total number of payment periods.**pv**- The present value, or total value of all payments now.**fv**- [optional] The cash balance desired after last payment is made. Defaults to 0.**type**- [optional] When payments are due. 0 = end of period. 1 = beginning of period. Default is 0.

Usage notes

Notes:

- Be consistent with inputs for rate. For example, for 5-year loan with 4.5% annual interest, enter the rate as 4.5%/12.
- By convention, the loan value (pv) is entered as a negative value.

## Excel Formula Training

Formulas are the key to getting things done in Excel. In this accelerated training, you'll learn how to use formulas to manipulate text, work with dates and times, lookup values with VLOOKUP and INDEX & MATCH, count and sum with criteria, dynamically rank values, and create dynamic ranges. You'll also learn how to troubleshoot, trace errors, and fix problems. Instant access. See details here.