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.
The ISPMT function syntax is:
ISPMT(rate, per, nper, pv)
rate is the interest rate for the investment.
per is the period you want to find the interest payment for. The value must be from 1 to nper.
nper is a number of payments.
pv is a present value of the payments.
Note: 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.
The numeric values can be entered manually or included into the cell you make reference to.
To apply the ISPMT function,
- select the cell where you wish to display the result,
- click the Insert function icon situated at the top toolbar,
or right-click within a selected cell and select the Insert Function option from the menu,
or click the icon situated at the formula bar,
- select the Financial function group from the list,
- click the ISPMT function,
- enter the required arguments separating them by commas,
- press the Enter button.
The result will be displayed in the selected cell.
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