Formulas > =IPMT()
How to Use IPMT() in Google Sheets
Description
How To Actually Use IPMT() in Sheets
IPMT(rate, period, number_of_periods, present_value, [future_value], [end_or_beginning])
Try IPMT yourself
In cells A1 to A5, enter the interest rate (as a decimal), the period number (1), the total number of periods (12), and the present value (1000). Use the IPMT formula in cell B1 to calculate the interest payment for the first period.
Hints (2)
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Make sure to convert the annual interest rate to a monthly rate if necessary.
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Remember that the period number is 1 for the first payment.
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