Calculate interest payment for a given period for an annuity based on periodic, constant payments and a constant interest rate.


Annuity_IPMT('rate', 'per', 'nper', 'pv', ['fv'], ['type'])


rateYesdoubleThe interest rate per period.
perYesdoubleThe period for which you want to find the interest and must be in the range 1 to nper.
nperYesdoubleThe total number of payment periods in an annuity.
pvYesdoubleThe present value, or the lump-sum amount that a series of future payments is worth right now.
fvNointThe future value, or a cash balance you want to attain after the last payment is made.
typeNodoubleThe 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