Difference between revisions of "Manuals/calci/IPMT"
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*This function gives amount of interest for a particular time, according to the periodic, fixed payments and fixed interest rate. | *This function gives amount of interest for a particular time, according to the periodic, fixed payments and fixed interest rate. | ||
*This function can be used to calculate the payments for a loan or the future value of an investment. | *This function can be used to calculate the payments for a loan or the future value of an investment. | ||
| − | *In IPMT(r,pr,np,pv,fv,type) , where r is the rate of interest for a year | + | *In <math>IPMT(r,pr,np,pv,fv,type)</math>, where <math>r</math> is the rate of interest for a year |
| − | + | *<math>pr</math> is the period for which the interest payment is to be calculated. It must be a value between <math>1</math> and <math>np</math>. | |
| − | * | + | *<math>np</math> is the total number of periods over which the loan or investment is to be paid. |
| − | *When type value is | + | *<math>pv</math> is the present value of the loan. |
| − | *Here the arguments fv and type are optional. | + | *<math>fv</math> is the future value of the loan, at the end of <math>np</math> payment. |
| − | *Suppose we | + | *<math>type</math> is the number <math>0</math> or <math>1</math>. |
| − | *Also when we are not giving the type value, the default value is | + | *When type value is <math>0</math> means the payment is made at the end of the period and type value is <math>1</math> means the payment is made at the beginning of the period |
| − | *Suppose we | + | *Here the arguments <math>fv</math> and <math>type</math> are optional. |
| − | *For e.g. | + | *Suppose we omit the value of <math>fv</math>, then it will consider the value as <math>0</math>. |
| + | *Also when we are not giving the <math>type</math> value, the default value is <math>0</math>. | ||
| + | *Suppose we calculate the monthly payments instead of annual payment, for the argument <math>r</math> we have to divide by <math>12</math> and the <math>np</math> value we have multiply with <math>12</math>. | ||
| + | *For e.g. The monthly payments on a 5 year loan at 10% annual interest, we have to give the arguments <math>r</math> and <math>np</math> as 10%/12 for <math>r</math> and 5*12 for <math>np</math>. | ||
*This function will give result as error when | *This function will give result as error when | ||
| − | Any one of the argument is | + | Any one of the argument is non-numeric |
| − | pr < 0 or pr > np | + | <math>pr < 0</math> or <math>pr > np</math> |
==Examples== | ==Examples== | ||
Revision as of 06:57, 16 December 2013
IPMT(r,pr,np,pv,fv,type)
- is the annual rate of interest.
- is the period of to find the interest rate.
- is the number of installments.
- is the present value.
- is the future value.
- is either 1 or 0.
is the annual rate of interest.
is the period of to find the interest rate.
is the number of installments.
is the present value.
is the future value.
is either 1 or 0.Description
- This function gives amount of interest for a particular time, according to the periodic, fixed payments and fixed interest rate.
- This function can be used to calculate the payments for a loan or the future value of an investment.
- In , where is the rate of interest for a year
- is the period for which the interest payment is to be calculated. It must be a value between and .
- is the total number of periods over which the loan or investment is to be paid.
- is the present value of the loan.
- is the future value of the loan, at the end of payment.
- is the number or .
- When type value is means the payment is made at the end of the period and type value is means the payment is made at the beginning of the period
- Here the arguments and are optional.
- Suppose we omit the value of , then it will consider the value as .
- Also when we are not giving the value, the default value is .
- Suppose we calculate the monthly payments instead of annual payment, for the argument we have to divide by and the value we have multiply with .
- For e.g. The monthly payments on a 5 year loan at 10% annual interest, we have to give the arguments and as 10%/12 for and 5*12 for .
- This function will give result as error when
, where 
and 
or 
and the Any one of the argument is non-numeric or
or 
Examples
- Calculate the interest payment during half yearly 1 and 2 of a loan for 50,000, that is to be reduced to 10,000 over a period of 3 years, by a series of constant halfyearly payments.
- Interest is charged at a rate of 4.5% per year and the payment is made at the beginning of each halfyearly.
- IPMT(4.5%/2,3,2*2,50000,10000,1)=-454.78 (EXCEL)=-480.666(CALCI)
2.The interest payment for a $55000 investment that earns 7.50% annually for 15 years.
- The interest payment is calculated for the 5th year and payments are due at the end of each year.
IPMT(7.5%/1, 5, 15*1, 55000)=-3418.570