# 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.

## Syntax

*expression*. `Ipmt`

( `_Arg1_`

, `_Arg2_`

, `_Arg3_`

, `_Arg4_`

, `_Arg5_`

, `_Arg6_`

)

*expression* A variable that represents a WorksheetFunction object.

### Parameters

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

Double

## Remarks

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.