WorksheetFunction.Ipmt Method (Excel)

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


expression. Ipmt( _Arg1_ , _Arg2_ , _Arg3_ , _Arg4_ , _Arg5_ , _Arg6_ )

expression A variable that represents a WorksheetFunction object.


Name Required/Optional Data type Description
Arg1 Required Double Rate - the interest rate per period.
Arg2 Required Double Per - the period for which you want to find the interest and must be in the range 1 to nper.
Arg3 Required Double Nper - the total number of payment periods in an annuity.
Arg4 Required Double Pv - the present value, or the lump-sum amount that a series of future payments is worth right now.
Arg5 Optional Variant 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 Optional Variant Type - the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.

Return value



Set type equal to If payments are due
0 At the end of the period
1 At 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.

See also

WorksheetFunction Object