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Siebel VB Language Reference > VB Language Reference >
IPmt Function
This standard VB function returns the interest portion of a payment for a given period of an annuity. Syntax
IPmt(rate, period, nper, pv, fv, due)
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rate |
Interest rate per period |
period |
The specific payment period, in the range 1 through nper |
nper |
The total number of payment periods |
pv |
The present value of the initial lump sum paid (as in an annuity) or received (as in a loan) |
fv |
The future value of the final lump sum required (as in a savings plan) or paid (which is 0 in a loan) |
due |
0 if payments are due at the end of the payment period 1 if payments are due at the beginning of the payment period |
Returns
The interest portion of a payment for a given payment period. Usage
The given interest rate is assumed to be constant over the life of the annuity. If payments are on a monthly schedule, then rate is 0.0075 if the annual percentage rate on the annuity or loan is 9%. Example
This example finds the interest portion of a loan payment amount for payments made in the last month of the first year. The loan is for $25,000 to be paid back over 5 years at 9.5% interest. Sub Button_Click
Dim aprate, periods
Dim payperiod
Dim loanpv, due
Dim loanfv, intpaid
Dim msgtext
aprate = .095
payperiod = 12
periods = 120
loanpv = 25000
loanfv = 0
' Assume payments are made at end of month
due = 0
intpaid = IPmt(aprate/12,payperiod,periods, _
loanpv,loanfv,due)
msgtext = "For a loan of $25,000 @ 9.5% for 10 years," _
& Chr(10)
msgtext = msgtext + "the interest paid in month 12 is: "_
& Format(intpaid, "Currency")
End Sub
See Also
FV Function
IRR Function
NPV Function
Pmt Function
PPmt Function
PV Function
Rate Function
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