Excel like a finance pro.
← The libraryPractice · 3 questions →
Financial function
IPMT
Returns the interest portion of a specific payment.
CommonDifficulty 1400 · AdvancedUsage rank #170 of 520
When to use it
The interest portion of one specific payment in a loan schedule. Early payments are mostly interest; the split shifts over time.
The shape of it
- Syntax
=IPMT(rate, per, nper, pv, [fv], [type])
Worked examples
First payment
=IPMT(0.06/12,1,360,250000) → -1,250.00
First month: the whole balance times the monthly rate.
Last payment
=IPMT(0.06/12,360,360,250000) → -7.46
The last payment is almost all principal.
A year of interest
=SUM(IPMT(0.06/12,SEQUENCE(12),360,250000)) → -14,916.46
Interest paid in year one.
Worth knowing
- IPMT + PPMT for the same period equals PMT.
- CUMIPMT sums interest over a range of periods without an array.
- The period must be between 1 and nper.
Where it goes wrong
- #NUM! for a period outside 1 to nper.
- Mixing annual rates with monthly periods, as with PMT.
Related
Learn the moves here — or let Wauvel run them on your numbers.
Meet your AI CFO →One CFO-grade Excel tip a week
A short, practical email for finance operators — functions, shortcuts, and the moves that save an afternoon. Free, unsubscribe anytime.