# IPMT

Returns the interest payment for a given period for an investment based on periodic, constant payments and a constant interest rate.

## Syntax

```
IPMT(<rate>, <per>, <nper>, <pv>[, <fv>[, <type>]])
```

### Parameters

Term | Definition |
---|---|

rate | The interest rate per period. |

per | The period for which you want to find the interest. Must be between 1 and nper (inclusive). |

nper | The total number of payment periods in an annuity. |

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

fv | (Optional) 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 BLANK. |

type | (Optional) The number 0 or 1 which indicates when payments are due. If type is omitted, it is assumed to be 0. The accepted values are listed below this table. |

The **type** parameter accepts the following values:

Set type equal to |
If payments are due |
---|---|

0 or omitted | At the end of the period |

1 | At the beginning of the period |

## Return Value

The interest payment for the given period.

## Remarks

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 0.12/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 0.12 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.

type is rounded to the nearest integer.

An error is returned if:

- per < 1 or per > nper
- nper < 1

This function is not supported for use in DirectQuery mode when used in calculated columns or row-level security (RLS) rules.

## Examples

Data |
Description |
---|---|

10.00% | Annual interest |

3 | Years of loan |

\$8,000 | Present value of loan |

### Example 1

The following DAX query:

```
EVALUATE
{
IPMT(0.1/12, 1, 3*12, 8000)
}
```

Returns the monthly interest due in the first month for a loan with the terms specified above.

[Value] |
---|

-66.6666666666667 |

### Example 2

The following DAX query:

```
EVALUATE
{
IPMT(0.1, 3, 3, 8000)
}
```

Returns the yearly interest due in the last year for a loan with the terms specified above, where payments are made yearly.

[Value] |
---|

-292.447129909366 |