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) True or False to specify when payments are due (Variant).|
|* 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 payments are due at the beginning of the period
* If "type" = False, then payments are due at the end of the period.
* If "type" is left blank, then False is used.
* For all arguments, any cash paid out is represented by negative number and any cash received is represented by positive numbers.
* 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 docs.microsoft.com
Ipmt(0.0081,2,48,20000) = -159.2252
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