---
url: /cube-functions/ipmt.md
description: Calculates the interest portion of a loan payment for a given period.
---

# IPMT

Calculates the interest portion of a loan payment for a given period.

```js
IPMT(rate, per, nper, pv, fv, type)
```

#### Parameters

* `rate` - The interest rate per period.
* `per` - The period for which you want to find the interest.
* `nper` - The total number of payments for the loan.
* `pv` - The present value, or the total amount of the loan.
* `fv` - 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. `(optional)`
* `type` - The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0. `(optional)`

#### Examples

```js
IPMT(0.05 / 12, 1, 12, 10000)
```

**Result:** `-41.67`

**Note:** Calculates the interest payment for the first period of a loan with a present value of $10,000, 12 monthly payments, and a 5% annual interest rate compounded monthly.