Calculates the interest paid during a specific period of an investment. This function is provided for compatibility with Lotus 1-2-3.
Syntax
ISPMT(rate,per,nper,pv)
Rate is the interest rate for the investment.
Per is the period for which you want to find the interest, and must be between 1 and nper.
Nper is the total number of payment periods for the investment.
Pv is the present value of the investment. For a loan, pv is the loan amount.
Remarks
Example
The example may be easier to understand if you copy it to a blank spreadsheet.
Selecting an example from Help
Data | Description |
---|---|
10% | Annual interest rate |
1 | Period |
3 | Number of years in the investment |
8000000 | Amount of loan |
Formula | Description (Result) |
=ISPMT(A2/12,A3,A4*12,A5) | Interest paid for the first monthly payment of a loan with the above terms (-64814.8) |
=ISPMT(A2,1,A4,A5) | Interest paid in the first year of a loan with the above terms (-533333) |
Note The interest rate is divided by 12 to get a monthly rate. The years the money is paid out is multiplied by 12 to get the number of payments.