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Financial
The Excel ISPMT function returns the interest paid during a period of a loan with EQUAL principal payments (not the standard level-payment loan).
Quick answer:
=ISPMT(6%/12, 1, 5*12, 25000) // period-1 interest
Syntax
=ISPMT(rate, per, nper, pv)
| Argument | Description | |
|---|---|---|
rate | Required | Rate per period. |
per | Required | The period. |
nper | Required | Total periods. |
pv | Required | Present value. |
How to use it
ISPMT returns the interest paid during a period of a loan with EQUAL principal payments (not the standard level-payment loan).
=ISPMT(6%/12, 1, 5*12, 25000) // interest, straight-line principal
Try it: interactive demo
Live demo
This is the formula pattern ISPMT uses — copy it into Excel with your own numbers.
Result: computed in Excel
Practice workbook
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Frequently asked questions
How is ISPMT different from IPMT?
ISPMT assumes equal principal payments each period (declining total payment); IPMT assumes a level total payment.
When is ISPMT used?
For loans structured with constant principal repayment, common in some commercial and intercompany loans.
Which Excel versions support it?
All modern versions.
Why might it return #NUM! or #VALUE!?
Out-of-range arguments (e.g. negative rate or settlement after maturity) give #NUM!; non-numeric inputs give #VALUE!.
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