# Manuals/calci/IPMT

IPMT (Rate,Period,NoPaymentPeriods,PresentValue,FutureValue,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.
• IPMT(), returns the interest payment for an investment for a given period.

## 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
```Any one of the argument is non-numeric or ```

## ZOS

• The syntax is to calculate amount of interest for a particular time in ZOS is • 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.
• For e.g.,

## Examples

• 1.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 half-yearly payments.
• Interest is charged at a rate of 4.5% per year and the payment is made at the beginning of each half year.
• IPMT(4.5%/2,3,2*2,50000,10000,1)= -454.78404196736113
• 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

IPMT