Difference between revisions of "IPmt"

Latest revision as of 00:55, 30 January 2016

IPmt(rate, per, nper, pv, fv, type)

Returns the interest portion of a payment received on an annuity, assuming constant periodic payments and a fixed interest rate.

Parameters:

«Rate»: The interest rate per period.
«Per»: The period to compute the principal payment for. {1..«NPer»}
«NPer»: The total number of periods in the annity's lifetime.
«Pv»: The present value.; If you receive a loan, this is the loan amount as a positive number.; If you give someone a loan, this is a negative number.
«Fv»: (Optional) Future value of annuity at the end of «NPer» periods.; If you receive a loan, this is your final balloon payment at the end as a negative number.; If you get money back at the end, this is a positive number.
«Type»: (Optional) Indicates whether payments are at the beginning of the period.; True = Payments due at beginning of period, with first payment due immediately.; False = Payments due at end of period. (default)

Library

Financial Functions

Examples

You have a 30-year fixed-rate mortgage at 6.5% on an initial loan amount of $350K. You have held the mortgage for 5 years -- your next payment will be the 61th payment. How much of your current monthly payment goes towards interest?

-IPmt(6.5%/12, 61, 30*12, $350K) → $1774.71

As a percent of the monthly payment:

IPmt(6.5%/12, 61, 30*12, $350K)/Pmt(6.5%/12, 30*12, $350K) → 80%

Create a graph of interest paid each month during the life time of the loan.

Index Month := 1..30*12

-IPmt(6.5%/12, Month, 30*12, $350K) →

@@ Line 1: / Line 1: @@
 [[Category:Financial Functions]]
-[[Category:Doc Status D]] <!-- For Lumina use, do not change -->
+[[Category:Doc Status C]] <!-- For Lumina use, do not change -->
-= IPmt(rate,per,nper,pv'',fv,type'') =
+== IPmt(rate, per, nper, pv'', fv, type'') ==
 Returns the interest portion of a payment received on an annuity, assuming constant periodic payments and a fixed interest rate.
 Parameters:
-  Rate: The interest rate per period.
+;«Rate»: The interest rate per period.
-  Per:  The period to compute the principal payment for. {1..NPer}
+;«Per»:  The period to compute the principal payment for. {1..«NPer»}
-  NPer: The total number of periods in the annity's lifetime.
+;«NPer»: The total number of periods in the annity's lifetime.
-  Pv:   The present value. If you receive a loan, this is the
+;«Pv»:   The present value.
-        loan amount as a positive number.  If you give someone
+:If you receive a loan, this is the loan amount as a positive number.
-        a loan, this is a negative number.
+:If you give someone a loan, this is a negative number.
-  Fv:   (Optional) Future value of annuity at the end of the NPer
+;«Fv»:   (Optional) Future value of annuity at the end of «NPer» periods.
-        periods.  If you receive a loan, this is your final balloon
+:If you receive a loan, this is your final balloon payment at the end as a negative number.
-        payment at the end as a negative number.  If you get money
+:If you get money back at the end, this is a positive number.
-        back at the end, this is a positive number.
+;«Type»: (Optional) Indicates whether payments are at the beginning of the period.
-  Type: (Optional) Indicates whether payments are at the beginning of the
+:<code>True</code>  = Payments due at beginning of period, with first payment due immediately.
-        period.
+:<code>False</code> = Payments due at end of period. (default)
-        True  = Payments due at beginning of period, with first payment
-                due immediately.
-        False = Payments due at end of period. (default)
-= Library =
+== Library ==
 Financial Functions
-= Examples =
+== Examples ==
 You have a 30-year fixed-rate mortgage at 6.5% on an initial loan amount of $350K. You have held the mortgage for 5 years -- your next payment will be the 61th payment.  How much of your current monthly payment goes towards interest?
-:-IPmt(6.5%/12,61, 30*12,$350K) &rarr; $1774.71
+:<code>-IPmt(6.5%/12, 61, 30*12, $350K) &rarr; $1774.71</code>
 As a percent of the monthly payment:
-:IPmt(6.5%/12,61,30*12,$350K) / [[Pmt]](6.5%/12,30*12,$350K) &rarr; 80%
+:<code>IPmt(6.5%/12, 61, 30*12, $350K)/Pmt(6.5%/12, 30*12, $350K) &rarr; 80%</code>
 Create a graph of interest paid each month during the life time of the loan.
+:<code>Index Month := 1..30*12</code>
+:<code>-IPmt(6.5%/12, Month, 30*12, $350K) &rarr;</code>
-:Index Month := 1..30*12
+:[[Image:Ipmt per month.png]]
-:-IPmt(6.5%/12,Month,30*12,$350K) &rarr; [[Image:Ipmt per month.png]]
-= See Also =
-* [[PPmt]], [[Pmt]]
+== See Also ==
+* [[PPmt]]
+* [[Pmt]]
 * [[CumIPmt]]
-* [[Rate]], [[NPer]], [[Pv]]
+* [[Rate]]
+* [[NPer]]
+* [[Pv]]
+* [[Financial functions]]