# 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)`

### Related Functions

• Excel FV Function
The Excel FV function used to calculate the future value of an investment based on a constant interest rate. The syntax of the FV function is as below:=FV(rate,nper,pmt,[pv],[type])…
• Excel IPMT Function
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• Excel IRR Function
The Excel IRR function returns the internal rate of return for a series of cash flows and the cash flows must be occurred at regular intervals (monthly or annually).The syntax of the IRR function is as below:=IRR(values, [guess])…
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The Excel MIRR function returns the modified internal rate of return for a series of cash flows and the cash flows must be occurred at regular intervals (monthly or annually). The syntax of the MIRR function is as below:=MIRR(values, finance_rate,reinvest_rate)…
Excel NPER Function
The Excel NPER function returns the number of periods for an investment or loan based on periodic payment amount and a constant interest rate.The syntax of the NPER function is as below:= NPER (rate, pmt, pv, [fv], [type])…
• Excel NPV Function
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• Excel PMT Function
The Excel PMT function returns the payment amount for a loan or investment based on constant payments and a constant interest rate.The syntax of the PMT function is as below:= PMT(rate, nper, pv,[fv],[type])…
• Excel PPMT Function
The Excel PPMT function returns the payment amount on the principal for a given period for a loan or investment based on constant payments and a constant interest rate. The syntax of the PPMT function is as below:=PPMT(rate, per,nper, pv,[fv],[type])…
• Excel RATE Function
The Excel RATE function returns the interest rate per payment period of an annuity.The syntax of the RATE function is as below:=RATE(nper, pmt,pv,[fv],[type],[guess])…
• Excel PV Function
The Excel PV function returns the present value of a loan or investment based on constant payments and a constant interest rate. So you can use the PV function to get the present value based on a series of future payments.The syntax of the PV function is as below:= PV(rate,nper,pmt,[fv],[type])…