Function ispmt

Calculates the interest paid (or received) for the specified period of a loan (or investment) with even principal payments.

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 12 percent annual interest, 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, 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.
• This function counts each period beginning with zero, not with one.
• Most loans use a repayment schedule with even periodic payments. This function returns the interest payment for a given period for this type of loan.
• Some loans use a repayment schedule with even principal payments. This function returns the interest payment for a given period for this type of loan.
• The interest charge each period is equal to the rate times the unpaid balance for the previous period. And the payment each period is equal to the ven principal plus th einterest for the period.