Join Curt Frye for an in-depth discussion in this video ISPMT: Calculating interest paid during a specific period, part of Excel 2010: Financial Functions in Depth.
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When you take out a loan, either you or your accountant might need to know how…much interest you paid for a given period.…For example if your business borrows $250,000 for some facility upgrades, you…might be able to write off some or all of the interest paid for a given…month, quarter, or year.…You can discover how much interest you paid on a specific loan payment by…using the ISPMT function.…I've set up the sample workbook with all of the arguments that we need for…the ISPMT function.…We have the Rate, which is simply the annual interest rate on the loan, then we…have the Period, which is the payment for which we're interested in…calculating the interest component. So this would be period 14 which is the…second payment of the second year.…
Then we have the Number of periods and the Number of periods is the number of…payments throughout the life of the loan.…In this case we have 12 monthly payments a year over two years for the total…of 24. And then finally, we have the Present value, which is the amount that we've borrowed.…
- Analyzing loans, payments, and interest
- Discovering the interest rate of an annuity
- Determining depreciation using the straight line, declining balance, double-declining balance, and other methods
- Calculating the future value of an investment with variable returns
- Finding the discount rate of a security
- Converting between fractional prices and decimal prices
- Determining the yield of securities that pay interest periodically
Skill Level Intermediate
Managing and Analyzing Data in Excel 2010with Dennis Taylor1h 32m Appropriate for all
Excel 2010: Data Validation in Depthwith Dennis Taylor59m 45s Intermediate
1. Analyzing Loans, Payments, and Interest
2. Calculating Depreciation
3. Determining Values and Rates of Return
4. Calculating Bond Coupon Dates and Security Durations
5. Calculating Security Prices and Yields
6. Calculating Prices and Yields of Securities with Odd Periods
Additional resources1m 5s
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