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 A variable that represents a WorksheetFunction object.
|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.|
|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.