# Documentation/Calc Functions/IPMT

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## Function name:

IPMT

## Category:

Financial Analysis

## Summary:

Calculates the periodic amortizement for investment with regular payments and a constant interest rate.

## Syntax:

IPMT(**Rate**; **Period**; **NPer**; **PV** [; **FV**[; **Type**]])

## Returns:

Returns a real number (in currency units) which is the amount of an annuity payment going towards interest for the given parameters.

## Arguments:

**Rate** is a real number (expressed as a percentage or fraction) or a reference to the cell containing that number which is the periodic interest rate.

**Period** is a positive whole number or a reference to the cell containing that number which is the period, for which the compound interest is calculated. **Period**=**Nper** if compound interest for the last period is calculated. It must be greater than or equal to 1.

**NPer** is a positive real number or a reference to the cell containing that number which is the total number of periods, during which annuity is paid. **Nper** can also be a non-integer value. It must be greater than or equal to 1. (payment period)

**PV** is a real number or a reference to the cell containing that number which is the present cash value in a sequence of payments.

**FV** is a real number or a reference to the cell containing that number which is the desired value (future value) at the end of the periods. If it is omitted, then the function uses 0.

**Type** is the due date of the payment at the beginning or end of each period. If it is omitted, then the function uses 0.

Type | Maturity Date |
---|---|

0 | due at the end |

1 | due at the beginning |

- If
**NPer**is not an integer value then the it is truncated to an integer. - If after truncation
**NPer**is not greater than or equal to 1 then the function will return an error value. - If
**Period**is not a positive whole number then the function returns an error vaue. - If
**Type**is anything accept 0 or 1, then the function returns an error value. - If
**Period**is greater than**NPer**then the function returns an error value.

## Additional details:

None

## Examples:

Formula | Description | Returns |
---|---|---|

=IPMT(5%;5;7;15000;20000;1) | The function calculates the interest rate during the fifth period (year) if the constant interest rate is 5% and the cash value is 15,000 currency units. The periodic payment is seven years and future value as 20000 and Type as 1 (due at the beginning). |
168.00 (currency units) |

=IPMT(5%;5;7;15000) | The function calculates the interest rate during the fifth period (year) if the constant interest rate is 5% and the cash value is 15,000 currency units. The periodic payment is seven years and future value and Type are 0 by default. |
-352.97 (currency units) |

=IPMT(0.05;7;5;15000) | The function returns an error value since Period is greater than NPer. |
Err:502 |

## Related LibreOffice functions:

## ODF standard:

## Equivalent Excel functions:

IPMT