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Financial function
ISPMT
Returns the interest paid during a specific period of an investment with equal principal payments.
Rarely usedDifficulty 1400 · AdvancedUsage rank #351 of 520
When to use it
Interest for a period of a loan repaid in equal principal instalments (not equal payments). Also used by Lotus for compatibility.
The shape of it
- Syntax
=ISPMT(rate, per, nper, pv)
Worked examples
First month
=ISPMT(0.1/12,1,36,8000000) → -64,814.81
First month of an 8,000,000 loan at 10% over 36 months.
Period zero
=ISPMT(0.1/12,0,36,8000000) → -66,666.67
Period 0: interest on the full balance.
Annual
=ISPMT(0.1,1,3,8000000) → -533,333.33
Annual periods.
Worth knowing
- Periods are 0-based here, unlike IPMT.
- Interest = -pv × rate × (1 - per/nper).
- Use IPMT for standard equal-payment loans.
Where it goes wrong
- The 0-based period convention trips people up.
- Not the same as IPMT for the same inputs.
Related
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