Calculates the interest paid during a specific period of an investment.

## Syntax

ISPMT(rate,per,nper,pv)

Rate     is the interest rate for the investment.

Per     is the period for which you want to find the interest, and must be between 1 and nper.

Nper     is the total number of payment periods for the investment.

Pv     is the present value of the investment. For a loan, pv is the loan amount.

## Remarks

• Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 12% for rate and 4 for nper.

• For all the arguments, the cash you pay out, such as deposits to savings or other withdrawals, is represented by negative numbers; the cash you receive, such as dividend checks and other deposits, is represented by positive numbers.

## Examples

In the first example, the interest rate is divided by 12 to get a monthly rate. The years the money is paid out is multiplied by 12 to get the number of payments.

 R ate Per Nper PV Formula Description (Result) 10% 1 3 8000000 =ISPMT([Rate]/12,[Per],[Nper]*12,[PV]) Interest paid for the first monthly payment of a loan with the specified arguments (-64814.8) 10% 1 3 8000000 =ISPMT([Rate],1,[Nper],[PV]) Interest paid in the first year of a loan with the specified arguments (-533333)