# 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