IPMT function

This topic describes the formula syntax and usage of the IPMT function in the Data Quality Execute Formula transform.

Description

Returns the interest payment for an investment for a given period. This is based on periodic, constant payments and a constant interest rate.

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

The IPMT function syntax has the following arguments:

rate Required. The interest rate per period.
per Required. The period to find the interest. This must be in the range 1 to nper.
nper Required. The total number of payment periods in an annuity.
pv Required. The present value, or the lump-sum amount that a series of future payments is worth right now.
fv Optional. The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).
type Optional. The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
- 0 — Payments are due at the end of the period.
- 1 — Payments are due at the beginning of the period.

Make sure to use consistent units to specify rate and nper. For monthly payments on a four-year loan at 12 percent annual interest, use .12/12 for rate and 4*12 for nper. For annual payments on the same loan, use .12 for rate and 4 for nper.
For all the arguments, cash paid out is represented by negative numbers; cash received is represented by positive numbers.

Table 1. Data
Rate	Period	Nper	PV
.10	1	3	8000

Table 2. Formula
Formula	Description	Result
`IPMT([Rate]/12,[Period],[Nper],[PV])`	Interest due in the first month for a loan with the terms in shown in the preceding table	-66.666664
`IPMT([Rate],3,[Nper],[PV])`	Interest due in the last year for a loan with the same terms, where payments are made yearly.	-292.44714