Question

IPMT
Calculates the monthly amount of interest in a loan payment
Instructions:
Use the loan data below, to complete the table below that shows the interest
amount contained in each loan payment. The interest should be different
each period.
Loan amount		10000
Months		36
Rate		8%
Payment		$313.36
Months	Payment	Interest
1	$313.36		<== Enter IPMT function here.
2	$313.36		<== Enter IPMT function here.
3	$313.36		<== Enter IPMT function here.

Answer 1

Below Table Shows the Interest Payment with Formula

	B	C	D	E
	Months	Payment	Interest	Formula
3	1	313.36	($66.67)	IPMT(8%/12,B3,36,10000)
4	2	313.36	($65.02)	IPMT(8%/12,B4,36,10000)
5	3	313.36	($63.37)	IPMT(8%/12,B5,36,10000)

Syntax Required for Using IPMT:

i - Annual Interest = 8/12

per - Period for which interest is calculated = 1 , 2, 3

nper - Number of Period = 36

PV - Present Value of Loan = 10,000

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