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# ISPMT function

This article describes the formula syntax and usage of the ISPMT function in Microsoft Excel.

## Description

Calculates the interest paid during a specific period of an investment. This function is provided for compatibility with Lotus 1-2-3.

## 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 four-year 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.

## Example

Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

 Data Description 0.1 Annual interest rate 1 Period 3 Number of years in the investment 8000000 Amount of loan Formula Description Result =ISPMT(A2/12,A3,A4*12,A5) Interest paid for the first monthly payment of a loan with the above terms -64814.8148 =ISPMT(A2,1,A4,A5) Interest paid in the first year of a loan with the above terms -533333.333

Applies To: Excel 2016, Excel 2010, Excel Starter, Excel 2013, Excel Online, Excel 2016 for Mac, Excel for Mac 2011, Excel 2007

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