Difference between revisions of "Documentation/How Tos/Calc: IPMT function"
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− | __NOTOC__ | + | {{DISPLAYTITLE: IPMT function}} |
+ | {{Documentation/CalcFunc FinancialTOC | ||
+ | |ShowPrevNext=block | ||
+ | |PrevPage=Documentation/How_Tos/Calc:_FVSCHEDULE_function | ||
+ | |NextPage=Documentation/How_Tos/Calc:_IRR_function | ||
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== IPMT == | == IPMT == | ||
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− | : With a fixed rate loan, where you make a constant payment each period to pay off the loan over the term, some of each period payment is interest on the outstanding capital, and some is a repayment of capital. Over time (as you pay off capital), the interest becomes less and the capital repayment becomes more. | + | : With a fixed rate loan, where you make a constant payment each period to pay off the loan over the term, some of each period payment is interest on the outstanding capital, and some is a repayment of capital. Over time (as you pay off capital), the interest becomes less, and the capital repayment becomes more. |
: <tt>'''IPMT'''</tt> returns the interest in the payment of a specified period. <tt>'''PPMT'''</tt> returns the capital repaid in the payment of that period. Together they add up to the actual payment, given by <tt>'''PMT'''</tt>. | : <tt>'''IPMT'''</tt> returns the interest in the payment of a specified period. <tt>'''PPMT'''</tt> returns the capital repaid in the payment of that period. Together they add up to the actual payment, given by <tt>'''PMT'''</tt>. | ||
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: returns <tt>'''-12.72'''</tt> in currency units. You take out a 2 year loan of 5000 currency units at a yearly interest rate of 5.5%, making monthly payments at the end of the month. In the 12<sup>th</sup> month you make your usual monthly repayment, of which 12.72 is interest. | : returns <tt>'''-12.72'''</tt> in currency units. You take out a 2 year loan of 5000 currency units at a yearly interest rate of 5.5%, making monthly payments at the end of the month. In the 12<sup>th</sup> month you make your usual monthly repayment, of which 12.72 is interest. | ||
− | === | + | === Issues: === |
− | + | * '''IPMT''' formats the result as currency if the cell has default formatting. It thus displays a real currency amount. The amount returned by '''IPMT''' may still be fractional - the display rounds this to the nearest real currency. Note that your loan provider might round in a different way (for example always downwards). | |
− | + | * Excel claims that this function calculates the "interest payment for a given period". This seems to be wrong - it is the interest in the <u>payment</u> for that period. Calc and Excel produce the same results. Gnumeric returns slightly different results when payment is at the start of each period; possibly it calculates what Excel says it calculates. | |
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− | [[Documentation/How_Tos/Calc: | + | {{SeeAlso|EN| |
+ | * [[Documentation/How_Tos/Calc: CUMIPMT function|CUMIPMT]] | ||
+ | * [[Documentation/How_Tos/Calc: CUMIPMT_ADD function|CUMIPMT_ADD]] | ||
+ | * [[Documentation/How_Tos/Calc: PMT function|PMT]] | ||
+ | * [[Documentation/How_Tos/Calc: PPMT function|PPMT]] | ||
+ | * [[Documentation/How_Tos/Calc: CUMPRINC function|CUMPRINC]] | ||
+ | * [[Documentation/How_Tos/Calc: CUMPRINC_ADD function|CUMPRINC_ADD]] | ||
− | + | * [[Documentation/How_Tos/Calc: ISPMT function|ISPMT]] | |
− | [[Documentation/How_Tos/Calc: Financial | + | * [[Documentation/How_Tos/Calc: Derivation of Financial Formulas|Derivation of Financial Formulas]] |
− | [[Documentation/How_Tos/Calc: | + | * [[Documentation/How_Tos/Calc: Financial functions|Financial functions]] |
− | + | ||
− | + | * [[Documentation/How_Tos/Calc: Functions listed alphabetically|Functions listed alphabetically]] | |
− | * | + | * [[Documentation/How_Tos/Calc: Functions listed by category|Functions listed by category]]}} |
− | + | [[Category: Documentation/Reference/Calc/Financial functions]] |
Latest revision as of 15:53, 30 January 2024
- Financial FunctionsDepreciation
- AMORDEGRCAMORLINCDBDDBSLNSYDVDBPayment Streams, Annuities, Loans
- CUMIPMTCUMIPMT_ADDCUMPRINCCUMPRINC ADDFVFVSCHEDULEIPMTIRRISPMTMIRRNPERNPVPMTPPMTPVRATERRIXIRRXNPVSecurities
-