Formulas and Functions

Chapter 6 Financial Functions 12 3
Related Topics
For related functions and additional information, see:
“RECEIVED” on page 14 6
“Common Arguments Used in Financial Functions” on page 341
“Listing of Financial Functions” on page 96
“Value Types” on page 36
“The Elements of Formulas” on page 15
“Using the Keyboard and Mouse to Create and Edit Formulas” on page 26
“Pasting from Examples in Help” on page 41
IPMT
The IPMT function returns the interest portion of a specied loan or annuity payment
based on xed, periodic payments and a xed interest rate.
IPMT(periodic-rate, period, num-periods, present-value, future-value, when-due)
 periodic-rate: The interest rate per period. periodic-rate is a number value and is
either entered as a decimal (for example, 0.08) or with a percent sign (for example,
8%).
 period: The payment period for which you want to calculate the amount of
principal or interest. period is a number and must be greater than 0.
 num-periods: The number of periods. num-periods is a number value and must be
greater than or equal to 0.
 present-value: The value of the initial investment, or the amount of the loan or
annuity. present-value is a number value. At time 0, an amount received is a positive
amount and an amount invested is a negative amount. For example, it could be an
amount borrowed (positive) or the initial payment made on an annuity contract
(negative).
 future-value: An optional argument that represents the value of the investment
or remaining cash value of the annuity (positive amount), or the remaining loan
balance (negative amount), after the nal payment. future-value is a number value.
At the end of the investment period, an amount received is a positive amount and
an amount invested is a negative amount. For example, It could be the balloon
payment due on a loan (negative) or the remaining value of an annuity contract
(positive). If omitted, it is assumed to be 0.