##### Using the IPMT function with only the required arguments:

##### Using the IPMT function with the optional arguments:

The arguments for the IPMT function are:

Argument | Required? | Description |
---|---|---|

rate | Required | The interest rate per period. |

per | Required | Specifies the period and must be in the range 1 to nper. |

nper | Required | The total number of payment periods in an annuity. |

pv | Required | The present value — the total amount that a series of future payments is worth now. |

fv | Optional | The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0. |

type | Optional | The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0: |