## IPMT(rate, per, nper, pv [,fv] [,type]) |

Returns the interest paid in a given period in a series of equal cash flows at regular intervals (Double). |

rate | The fixed interest rate per period (Double). |

per | The period for which you want to find the interest (Double). |

nper | The total number of payments (Double). |

pv | The present value (Double). |

fv | (Optional) The future value (or cash balance) after all the cash flows (Double). |

type | (Optional) The number indicating when the payments are due: 0 = the end of the period ( default)1 = the start of the period |

REMARKS |

* This function defines the interest payment for a given period of an annuity based on periodic, fixed payments and a fixed interest rate. * An annuity is a series of fixed cash payments made over a period of time. * An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan). * The "rate" and "nper" arguments must be in the same units (days, months, years). * The "per" can be any value between 1 and "nper". * If "fv" is left blank, then 0 is used. * If "type" = True, then 1 is used. * For all arguments, any cash paid out is represented by negative number and any cash received is represented by positive numbers. * You can use the IRR function to return the interest rate for a series of unequal cash flows at regular intervals (explicit reinvestment rate).* You can use the MIRR function to return the interest rate for a series of unequal cash flows at regular intervals (implicit reinvestment rate).* You can use the RATE function to return the interest rate for a series of equal cash flows at regular intervals.* The equivalent Excel function is Application.WorksheetFunction.IPMT.* The equivalent .NET function is Microsoft.VisualBasic.Financial.IPmt* Example - If you have an annual interest rate of 10%, and you make monthly payments then "rate" per period is (10/100 * 1/12) = 0.0083. * Example - If you are making monthly payments for 5 years then your "nper" is (5*12) = 60. * Example - When you borrow money to buy a car, the "present value" is the amount you are paying back to the lender ? * For the Microsoft documentation refer to learn.microsoft.com |

Debug.Print Ipmt(0.0081, 2, 48, 20000) '= -159.2252

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