Apple iWork '09 User Manual
Page 124
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when-due: An optional argument that specifies whether payments are due at the
beginning or end of each period. Most mortgage and other loans require the first
payment at the end of the first period (0), which is the default. Most lease and rent
payments, and some other types of payments, are due at the beginning of each
period (1).
end (0 or omitted): Payments are due at the end of each period.
beginning (1): Payments are due at the beginning of each period.
Example
In this example, IPMT is used to determine the interest portion of the first payment of the third
year of the loan term (payment 25) given the loan facts presented. The function evaluates to
approximately –$922.41 representing the interest portion of loan payment 25.
periodic-rate
period
num-periods
present-value
future-value
when-due
=IPMT(B2, C2,
D2, E2, F2, G2)
=0.06/12
25
=10*12
200000
-100000
0
Related Topics
For related functions and additional information, see:
“CUMPRINC” on page 112
“Example of a Loan Amortization Table” on page 353
“Choosing Which Time Value of Money Function to Use” on page 348
“Common Arguments Used in Financial Functions” on page 341
“Listing of Financial Functions” on page 96
“Value Types” on page 36
“The Elements of Formulas” on page 15
“Using the Keyboard and Mouse to Create and Edit Formulas” on page 26
“Pasting from Examples in Help” on page 41
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Chapter 6
Financial Functions