# IPMT

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  `