Apple iWork '09 - Manual (Page 127)

Chapter 6 Financial Functions 127
ISPMT(annual-rate, period, num-periods, present-value)
 annual-rate: The annual coupon rate or stated annual interest rate of the security.
annual-rate is a number value and is either entered as a decimal (for example, 0.08)
or with a percent sign (for example, 8%).
 period: The payment period for which you want to calculate the amount of
principal or interest. period is a number and must be greater than 0.
 num-periods: The number of periods. num-periods is a number value and must be
greater than or equal to 0.
 present-value: The value of the initial investment, or the amount of the loan or
annuity. present-value is a number value. At time 0, an amount received is a positive
amount and an amount invested is a negative amount. For example, it could be an
amount borrowed (positive) or the initial payment made on an annuity contract
(negative).
Usage Notes
The IPMT function has additional functionality and should be used instead of ISPMT. Â
Example
In this example, ISPMT 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 –$791.67, which represents the interest portion of loan
payment 25.
periodic-rate period num-periods present-value
=ISPMT(B2, C2, D2, E2) =0.06/12 25 =10*12 200000
Related Topics
For related functions and additional information, see:
“IPMT” on page 123
“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