Description
Calculate interest payment for a given period for an annuity based on periodic, constant payments and a constant interest rate.
Signature
Annuity_IPMT('rate', 'per', 'nper', 'pv', ['fv'], ['type'])
Parameters
| Name | Required | Type | Description |
|---|---|---|---|
| rate | Yes | double | The interest rate per period. |
| per | Yes | double | The period for which you want to find the interest and must be in the range 1 to nper. |
| nper | Yes | double | The total number of payment periods in an annuity. |
| pv | Yes | double | The present value, or the lump-sum amount that a series of future payments is worth right now. |
| fv | No | int | The future value, or a cash balance you want to attain after the last payment is made. |
| type | No | double | The number 0 (the end of the period) or 1 (the start of the period), indicates when payments are due. |
Example 1
Annuity_IPMT(0.08/12, 1, 60, -10000) Returns 66.66