Calculates the payment on interest for an investment based on constant-amount periodic payments and a constant interest rate.
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IPMT()
Description
How To Use in Sheets
IPMT(rate, period, number_of_periods, present_value, [future_value], [end_or_beginning])
External Links
Google Sheets IPMT Function | Calculate Interest Amount on a Loan | Google Sheets Functions
The Google Sheets IPMT function assists you to calculate the interest amount you've to pay on a loan for a specific period. For instance, if you have taken a 3-year loan, with the IPMT function you can calculate the interest amount for any payment period. For this task, in the IPMT function formula, all you need to do is to type the desired period as the value for the Period attribute. Use the IPMT function to calculate the interest amount for fixed periodic payments and fixed interest.
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