# IPMT

## Content

This function calculates the payment of interest on a loan.

## Syntax

`IPMT(rate, per, nper, pval, fval, type)`

## Arguments

This function has these arguments:

| Argument | Description |
| -------- | ----------- |
| *rate* | Value of interest rate per period. |
| *per* | Number of the period for which to find the interest, between 1 and *nper* |
| *nper* | Total number of payment periods in an annuity. |
| *pval* | Present value, worth now |
| *fval* | [Optional] Future value, cash value after the last payment; if omitted, the calculation uses zero |
| *type* | [Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0) |

## Remarks

The result is represented by a negative number because it is money paid out by you.

## Data Types

Accepts numeric data for all arguments. Returns numeric data.

## Examples

`IPMT(0.65,A1,B3,C42)`

`IPMT(R1C1,R12C12,R13C13,R32C1)`

`IPMT(0.45, 2, 30, 6000)` gives the result -$2,699.98