ISPMT Function

The ISPMT function is one of the financial functions. It is used to calculate the interest payment for a specified period of an investment based on a constant payment schedule.

Syntax

ISPMT(rate, per, nper, pv)

The ISPMT function has the following arguments:

Argument	Description
rate	The interest rate for the investment.
per	The period you want to find the interest payment for. The value must be from 1 to nper.
nper	A number of payments.
pv	A present value of the payments.

Notes

Cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers. Units for rate and nper must be consistent: use N%/12 for rate and N*12 for nper in case of monthly payments, N%/4 for rate and N*4 for nper in case of quarterly payments, N% for rate and N for nper in case of annual payments.

How to apply the ISPMT function.

Examples

The figure below displays the result returned by the ISPMT function.