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IPmt# Function Details
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IPmt# (rate#, per#, nper#, pv#, fv#, type%, status%)
Usage Notes:
■ The argument rate# is the interest rate per period. For example, if you
get a car loan at a 10% annual interest rate and make monthly payments,
the rate per period would be .10/12, or .0083.
■ The argument nper# is the total number of payment periods in an annuity.
For example, if you get a 4-year car loan and make monthly payments,
your loan has a total number of 4x12, or 48 payment periods.
■ The arguments rate# and nper# must use consistent units. For example:
Rate# Nper# Loan Description
══════ ═════ ════════════════════════════════════════════════
.10/12 4*12 Monthly payment, 4-year loan, 10% annual interest
.10 4 Annual payment, 4-year loan, 10% annual interest
■ The argument pv# is the present value, or lump sum that a series of
payments to be paid in the future is worth now. For example, when you
borrow money to buy a car, the loan amount is the present value to the
lender of the monthly car payments you will make.
■ The argument fv# is the future value, or cash balance sometime in the
future after the final payment is made. The future value of a loan, for
example, is 0. As another example, if you think you will need $50,000 in
18 years to pay for your child's education, then $50,000 is the future
value.
■ The argument status% can be any variable that returns information about
the success or failure of the calculation. The value of status% will be
0 if the calculation was successful, and 1 if it was not.
■ An annuity is a series of constant cash payments made over a continuous
period of time. An annuity can be a loan (such as a home mortgage), or
an investment (such as a monthly savings plan).
■ For all arguments, cash you pay out, such as deposits to savings, is
represented by negative numbers; cash you receive, such as dividend
checks, is represented by positive numbers.