# 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.