ISPMT function
This article describes the formula syntax and usage of the ISPMTfunction in Microsoft Excel.
Description
Calculates the interest paid during a specific period of an investment. This function is provided for compatibility with Lotus 123.
Syntax
ISPMT(rate, per, nper, pv)
The ISPMT function syntax has the following arguments:

Rate Required. The interest rate for the investment.

Per Required. The period for which you want to find the interest, and must be between 1 and nper.

Nper Required. The total number of payment periods for the investment.

Pv Required. The present value of the investment. For a loan, pv is the loan amount.
Remarks

Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a fouryear loan at an annual interest rate of 12 percent, use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 12% for rate and 4 for nper.

For all the arguments, the cash you pay out, such as deposits to savings or other withdrawals, is represented by negative numbers; the cash you receive, such as dividend checks and other deposits, is represented by positive numbers.

For additional information about financial functions, see the PV function.
Example
The example may be easier to understand if you copy it to a blank worksheet.
How do I copy an example?

Select the example in this article.
Important Do not select the row or column headers.
Selecting an example from Help

Press CTRL+C.

In Excel, create a blank workbook or worksheet.

In the worksheet, select cell A1, and press CTRL+V.
Important For the example to work properly, you must paste it into cell A1 of the worksheet.

To switch between viewing the results and viewing the formulas that return the results, press CTRL+` (grave accent), or on the Formulas tab, in the Formula Auditing group, click the Show Formulas button.
After you copy the example to a blank worksheet, you can adapt it to suit your needs.


Note The interest rate is divided by 12 to get a monthly rate. The number of years the money is paid out is multiplied by 12 to get the number of payments.