ISPMT |
ISPMT(rate, per, nper, pv) |
Returns the interest paid for a given period in a series of equal cash flows at regular intervals (incorrectly). |
rate | The fixed interest rate per period. |
per | The period for which you want to find the interest. |
nper | The total number of payments. |
pv | The present value. |
REMARKS |
* This function uses an incorrect formula to calculate the interest and was replaced with IPMT. * This function was originally provided to allow backwards compatibility with other spreadsheet programs. * Instead of using this function you should use the IPMT function which apart from giving the correct value has more flexibility. * This function assumes that principle payments are constant but interest varies which means that the total payment varies. * The IPMT however assumes that total payments are constant meaning both the principle payment and the interest vary. * The amount of principal paid back every period is constant. * The amount repaid every period is not constant. * The "per" must be in the range 0 to ('nper' - 1). * For the Microsoft documentation refer to support.microsoft.com * For the Google documentation refer to support.google.com |
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1 - How much interest is paid back in the first month if I borrow £10,000 for 5 years at an annual interest rate of 10%. 2 - How much interest is paid back in the second month if I borrow £10,000 for 5 years at an annual interest rate of 10%. The result is incorrect. 3 - How much interest is paid back in the third month if I borrow £10,000 for 5 years at an annual interest rate of 10%. The result is incorrect. 4 - How much interest is paid back in the first month if I borrow £50,000 for 15 years at an annual interest rate of 5%. 5 - What is the amount of interest that is paid back in the first month if I borrow £8,000 for 3 years at an annual interest rate of 10%. |
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