# IPmt

## 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) →`

## See Also

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