This Excel tutorial explains how to use the Excel **IPMT function** with syntax and examples.

The Microsoft Excel IPMT function returns the interest payment for an investment based on an interest rate and a constant payment schedule.

The syntax for the IPMT function in Microsoft Excel is:

IPMT( interest_rate, period, number_payments, PV, [FV], [Type] )

- interest_rate
- The interest rate for the investment.
- period
- The period to calculate the interest rate. It must be a value between 1 and
*number_payments*. - number_payments
- The number of payments for the annuity.
- PV
- The present value of the payments.
- FV
- Optional. It is the future value that you'd like the investment to be after all payments have been made. If this parameter is omitted, it will assume a
*FV*of 0. - Type
Optional. It indicates when the payments are due. If the

*Type*parameter is omitted, it assumes a*Type*value of 0.*Type*can be one of the following values:Value Explanation 0 Payments are due at the end of the period. (default) 1 Payments are due at the beginning of the period.

The IPMT function can be used in the following versions of Microsoft Excel:

- Excel 2013, Excel 2011 for Mac, Excel 2010, Excel 2007, Excel 2003, Excel XP, Excel 2000

The IPMT function can be used in Microsoft Excel as the following type of function:

- Worksheet function (WS)
- VBA function (VBA)

Let's look at an example to how you would use the IPMT examples and explore how to use the IPMT function as a worksheet function in Microsoft Excel:

This first example returns the interest payment for a $5,000 investment that earns 7.5% annually for 2 years. The interest payment is calculated for the 8th month and payments are due at the end of each month.

=IPMT(7.5%/12, 8, 2*12, 5000)

This next example returns the interest payment for a $8,000 investment that earns 6% annually for 4 years. The interest payment is calculated for the 30th week and payments are due at the beginning of each week.

=IPMT(6%/52, 30, 4*52, 8000, 0 ,1)

This next example returns the interest payment for a $6,500 investment that earns 5.25% annually for 10 years. The interest payment is calculated for the 4th year and payments are due at the end of each year.

=IPMT(5.25%/1, 4, 10*1, 6500)

The IPMT function can also be used in VBA code in Microsoft Excel.

Let's look at some Excel IPMT function examples and explore how to use the IPMT function in Excel VBA code:

Dim LNumber As Currency LNumber = IPmt(0.0525/1, 4, 10*1, 6500)

In this example, the variable called LNumber would now contain the value of -256.504747.

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- ABS (WS, VBA)
- ACCRINT (WS)
- ACCRINTM (WS)
- ACOS (WS)
- ACOSH (WS)
- ADDRESS (WS)
- AGGREGATE (WS)
- AMORDEGRC (WS)
- AMORLINC (WS)
- AND (WS)
- AND (VBA)
- AREAS (WS)
- ASC (VBA)
- ASIN (WS)
- ASINH (WS)
- ATAN (WS)
- ATAN2 (WS)
- ATANH (WS)
- ATN (VBA)
- AVEDEV (WS)
- AVERAGE (WS)
- AVERAGEA (WS)
- AVERAGEIF (WS)
- AVERAGEIFS (WS)
- BETA.DIST (WS)
- BETA.INV (WS)
- BETADIST (WS)
- BETAINV (WS)
- BIN2DEC (WS)
- BIN2HEX (WS)
- BIN2OCT (WS)
- BINOM.DIST (WS)
- BINOM.INV (WS)
- BINOMDIST (WS)
- CASE (VBA)
- CBOOL (VBA)
- CBYTE (VBA)
- CCUR (VBA)
- CDATE (VBA)
- CDBL (VBA)
- CDEC (VBA)
- CEILING (WS)
- CEILING.PRECISE (WS)
- CELL (WS)
- CHAR (WS)
- CHDIR (VBA)
- CHDRIVE (VBA)
- CHIDIST (WS)
- CHIINV (WS)
- CHITEST (WS)
- CHOOSE (WS, VBA)
- CHR (VBA)
- CINT (VBA)
- CLEAN (WS)
- CLNG (VBA)
- CODE (WS)
- COLUMN (WS)
- COLUMNS (WS)
- COMBIN (WS)
- COMBINA (WS)
- COMPLEX (WS)
- Concat with & (WS, VBA)
- CONCATENATE (WS)
- CONVERT (WS)
- COS (WS, VBA)
- COSH (WS)
- COUNT (WS)
- COUNTA (WS)
- COUNTBLANK (WS)
- COUNTIF (WS)
- COUNTIFS (WS)
- COVAR (WS)
- CSNG (VBA)
- CSTR (VBA)
- CURDIR (VBA)
- CVAR (VBA)
- DATE (WS)
- DATE (VBA)
- DATEADD (VBA)
- DATEDIF (WS)
- DATEDIFF (VBA)
- DATEPART (VBA)
- DATESERIAL (VBA)
- DATEVALUE (WS, VBA)
- DAVERAGE (WS)
- DAY (WS, VBA)
- DAYS360 (WS)
- DB (WS)
- DCOUNT (WS)
- DCOUNTA (WS)
- DDB (WS, VBA)
- DEGREES (WS)
- DGET (WS)
- DIR (VBA)
- DMAX (WS)
- DMIN (WS)
- DOLLAR (WS)
- DPRODUCT (WS)
- DSTDEV (WS)
- DSTDEVP (WS)
- DSUM (WS)
- DVAR (WS)
- DVARP (WS)
- ENVIRON (VBA)
- ERROR.TYPE (WS)
- EVEN (WS)
- EXACT (WS)
- EXP (WS, VBA)
- FACT (WS)
- FALSE (WS)
- FILEDATETIME (VBA)
- FILELEN (VBA)
- FIND (WS)
- FIX (VBA)
- FIXED (WS)
- FLOOR (WS)
- FOR...NEXT (VBA)
- FORECAST (WS)
- FORMAT Dates (VBA)
- FORMAT Numbers (VBA)
- FORMAT Strings (VBA)
- FREQUENCY (WS)
- FV (WS, VBA)
- GETATTR (VBA)
- GROWTH (WS)
- HLOOKUP (WS)
- HOUR (WS, VBA)
- HYPERLINK (WS)
- IF (WS)
- IF-THEN-ELSE (VBA)
- IFs (more than 7) (WS)
- IFs (up to 7) (WS)
- INDEX (WS)
- INDIRECT (WS)
- INFO (WS)
- INSTR (VBA)
- INSTRREV (VBA)
- INT (WS, VBA)
- INTERCEPT (WS)
- IPMT (WS, VBA)
- IRR (WS, VBA)
- ISBLANK (WS)
- ISDATE (VBA)
- ISEMPTY (VBA)
- ISERR (WS)
- ISERROR (WS, VBA)
- ISLOGICAL (WS)
- ISNA (WS)
- ISNONTEXT (WS)
- ISNULL (VBA)
- ISNUMBER (WS)
- ISNUMERIC (VBA)
- ISPMT (WS)
- ISREF (WS)
- ISTEXT (WS)
- LARGE (WS)
- LCASE (VBA)
- LEFT (WS, VBA)
- LEN (WS, VBA)
- LINEST (WS)
- LN (WS)
- LOG (WS, VBA)
- LOG10 (WS)
- LOOKUP (WS)
- LOWER (WS)
- LTRIM (VBA)
- MATCH (WS)
- MAX (WS)
- MAXA (WS)
- MDETERM (WS)
- MEDIAN (WS)
- MID (WS, VBA)
- MIN (WS)
- MINA (WS)
- MINUTE (WS, VBA)
- MINVERSE (WS)
- MIRR (WS, VBA)
- MKDIR (VBA)
- MMULT (WS)
- MOD (WS)
- MONTH (WS, VBA)
- MONTHNAME (VBA)
- N (WS)
- NA (WS)
- NETWORKDAYS (WS)
- NETWORKDAYS.INTL (WS)
- NOT (WS)
- NOW (WS, VBA)
- NPER (WS, VBA)
- NPV (WS, VBA)
- ODD (WS)
- OFFSET (WS)
- OR (WS)
- OR (VBA)
- PERCENTILE (WS)
- PERCENTRANK (WS)
- PERMUT (WS)
- PI (WS)
- PMT (WS, VBA)
- POWER (WS)
- PPMT (WS, VBA)
- PRODUCT (WS)
- PROPER (WS)
- PV (WS, VBA)
- QUARTILE (WS)
- RADIANS (WS)
- RAND (WS)
- RANDBETWEEN (WS)
- RANDOMIZE (VBA)
- RANK (WS)
- RATE (WS, VBA)
- REPLACE (WS)
- REPLACE (VBA)
- REPT (WS)
- RIGHT (WS, VBA)
- RND (VBA)
- ROMAN (WS)
- ROUND (WS)
- ROUND (VBA)
- ROUNDDOWN (WS)
- ROUNDUP (WS)
- ROW (WS)
- ROWS (WS)
- RTRIM (VBA)
- SEARCH (WS)
- SECOND (WS)
- SETATTR (VBA)
- SGN (VBA)
- SIGN (WS)
- SIN (WS, VBA)
- SINH (WS)
- SLN (WS, VBA)
- SLOPE (WS)
- SMALL (WS)
- SPACE (VBA)
- SPLIT (VBA)
- SQR (VBA)
- SQRT (WS)
- STDEV (WS)
- STDEVA (WS)
- STDEVP (WS)
- STDEVPA (WS)
- STR (VBA)
- STRCOMP (VBA)
- STRCONV (VBA)
- SUBSTITUTE (WS)
- SUBTOTAL (WS)
- SUM (WS)
- SUMIF (WS)
- SUMIFS (WS)
- SUMPRODUCT (WS)
- SUMSQ (WS)
- SUMX2MY2 (WS)
- SUMX2PY2 (WS)
- SUMXMY2 (WS)
- SWITCH (VBA)
- SYD (WS, VBA)
- T (WS)
- TAN (WS, VBA)
- TANH (WS)
- TEXT (WS)
- TIME (WS)
- TIMESERIAL (VBA)
- TIMEVALUE (WS, VBA)
- TODAY (WS)
- TRANSPOSE (WS)
- TRIM (WS, VBA)
- TRUE (WS)
- TRUNC (WS)
- TYPE (WS)
- UCASE (VBA)
- UPPER (WS)
- VAL (VBA)
- VALUE (WS)
- VAR (WS)
- VARA (WS)
- VARP (WS)
- VARPA (WS)
- VDB (WS)
- VLOOKUP (WS)
- WEEKDAY (WS, VBA)
- WEEKDAYNAME (VBA)
- WHILE...WEND (VBA)
- YEAR (WS, VBA)
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