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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)


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
