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WorksheetFunction.Ipmt(Double, Double, Double, Double, Object, Object) Method

Definition

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

public double Ipmt (double Arg1, double Arg2, double Arg3, double Arg4, object Arg5, object Arg6);
Public Function Ipmt (Arg1 As Double, Arg2 As Double, Arg3 As Double, Arg4 As Double, Optional Arg5 As Object, Optional Arg6 As Object) As Double

Parameters

Arg1
Double

Rate - the interest rate per period.

Arg2
Double

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

Arg3
Double

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

Arg4
Double

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

Arg5
Object

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
Object

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

Returns

Remarks

0At the end of the period
1At 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.

Applies to