# Excel ISPMT Function

This post will guide you how to use Excel ISPMT function with syntax and examples in Microsoft excel.

### Description

The Excel ISPMT function used to calculate the interest paid during a specific period of an investment.

The ISPMT function is a build-in function in Microsoft Excel and it is categorized as a Financial Function.

The ISPMT function is available in Excel 2016, Excel 2013, Excel 2010, Excel 2007, Excel 2011 for Mac.

### Syntax

The syntax of the ISPMT function is as below:

= ISPMT (rate, per, nper, pv)

Where the ISPMT function arguments are:

**Rate**-This is a required argument. The interest rate per period.**Per**–This is a required argument. The period for which you want to find the interest. And it must be an integer number between 1 and nper value.**Nper**– This is a required argument. The total number of payment periods for the annuity.**Pv**– This is a required argument. The present value of the payments.

**Note:**

- The units for rate and nper should be consistent. If you make monthly payments on a four-year loan at 12 percent annual interest, and you should use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, you need to use 12% for rate and 4 for nper.
- For all the 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.

### Excel ISPMT Function Examples

The below examples will show you how to use Excel ISPMT Function to calculate the interest paid during a specific period of a loan or investment.

**#1** to get the interest paid for the first year payment of a loan, using the following formula:

= ISPMT(B1,B2,B3,B4)

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