# ISPMT function

The ISPMT function calculates the interest paid during a particular period of an investment.

## Parts of an ISPMT formula

`ISPMT(rate, period, number_of_periods, present_value)`

 Part Description Notes `rate` The interest rate. `period` The time frame for which you want to view the interest payment. Should be number between 1 and number_of_periods. `number_of_periods` The number of payments to be made. `present_value` The current value of the annuity.

## Sample formula

`ISPMT(15%, 2, 5, 1000)`

## Notes

Make sure that consistent units are used for the rate, period, and number of periods. For example, a car loan for 36 months may be paid monthly, in which case the annual percentage rate (APR) should be divided by 12 and the number of payments is 36. A different type of loan of the same length might be paid quarterly, in which case the APR should be divided by 4 and the number of payments would be 12.

## Example

 A B 1 Formula Result 2 =ISPMT(B1, B2, B3, B4) -2400

## Related functions

• PPMT: The PPMT function calculates the payment on the principal of an investment based on constant-amount periodic payments and a constant interest rate.
• PMT: The PMT function calculates the periodic payment for an annuity investment based on constant-amount periodic payments and a constant interest rate.
• NPER: The NPER function calculates the number of payment periods for an investment based on constant-amount periodic payments and a constant interest rate.
• IPMT: The IPMT function calculates the payment on interest for an investment based on constant-amount periodic payments and a constant interest rate.
• FVSCHEDULE: The FVSCHEDULE function calculates the future value of some principal based on a specified series of potentially varying interest rates.
• FV: The FV function calculates the future value of an annuity investment based on constant-amount periodic payments and a constant interest rate.