IPMT Google Sheet Formula

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IPMT Formula Syntax

=IPMT(0.05/12, 1, 360, 200000)

Example Use Case

Calculating the interest payment for a specific period of a loan

Understanding the IPMT Formula

The IPMT function in Excel calculates the interest payment for a specific period of a loan or investment based on constant payments and a constant interest rate. It's a loan analysis tool for payment breakdown—like determining how much of a specific mortgage payment goes toward interest.

IPMT(0.05/12, 1, 360, 200000) calculates the interest portion of the first payment on a $200,000, 30-year mortgage at 5% annual interest. It takes rate, per, nper, pv, and optional fv and type arguments, providing the interest component of a specific payment—useful for understanding loan costs over time.

Why Use IPMT?

IPMT breaks down payments—think loan amortization or interest expense tracking. Its ability to isolate the interest portion of any payment makes it valuable for financial planning, tax deduction analysis, or understanding how loan payments evolve over time.

Example with Sample Data

Parameters	Formula	Result
Rate: 5%/12 (monthly) Period: 1 Term: 360 months Principal: $200,000 Type: 0 (end of period)	=IPMT(0.05/12, 1, 360, 200000)	-$833.33
Same mortgage Period: 12	=IPMT(0.05/12, 12, 360, 200000)	-$822.09
Same mortgage Period: 360	=IPMT(0.05/12, 360, 360, 200000)	-$4.47

IPMT isolates interest portions: -$833.33 interest in the first mortgage payment, gradually decreasing to -$4.47 by the final payment. Negative indicates payment outflow. It's an interest payment analyzer.