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Advanced Excel Financial - ISPMT Function
Description
The ISPMT function calculates the interest paid during a specific period of an investment. This Function is provided for compatibility with Lotus 1-2-3.
Syntax
ISPMT (rate, per, nper, pv)
Arguments
| Argument | Description | Required/ Optional |
|---|---|---|
| Rate | The interest rate for the investment. | Required |
| Per | The period for which you want to find the interest, and must be between 1 and nper. | Required |
| Nper | The total number of payment periods for the investment. | Required |
| Pv | The present value of the investment. For a loan, pv is the loan amount. |
Required |
Notes
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 an annual interest rate of 12 percent, 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 or other withdrawals, is represented by negative numbers.
Cash you receive, such as dividend checks and other deposits, is represented by positive numbers.
Applicability
Excel 2007, Excel 2010, Excel 2013, Excel 2016
Example
