# Documentation/Calc Functions/ISPMT

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ISPMT

## Category:

Financial Analysis

## Summary:

Calculates the level of interest for unchanged amortization installments.

## Syntax:

ISPMT(Rate; Period; Total Periods; Invest)

## Returns:

Returns a real number (in currency units) which is the interest payment of an amortized loan for a given period.

## Arguments:

Rate is a real number or a reference to the cell containing that number which is the periodic interest rate.

Period is a real number or a reference to the cell containing that number which is the number of installments for calculation of interest.

Total Periods is a real number or a reference to the cell containing that number which is the total number of installment periods.

Invest is a real number or a reference to the cell containing that number which is the amount of the investment.

• If any of the argument is not a real number(except for TRUE and FALSE) then the function returns an #VALUE error.
• If Total Periods is 0 then the function returns a numeric (#NUM!) error.

None

## Examples:

Formula Description Returns
=ISPMT(1%;18;24;120000) For a credit amount of 120,000 currency units with a two-year term and monthly installments, at a yearly interest rate of 12% the level of interest after 1.5 years is required. The function calculates the level of interest for unchanged amortization installments. -300 (currency units)
=ISPMT(0.01;18;24;120000) For a credit amount of 120,000 currency units with a two-year term and monthly installments, at a yearly interest rate of 12% the level of interest after 1.5 years is required. The function calculates the level of interest for unchanged amortization installments. -300 (currency units)
=ISPMT(1%;18;0;120000) The function returns a numeric error since Total Periods is 0. #NUM!

ISPMT