Home ➜ VBA ➜ Top VBA Functions ➜ **VBA IPMT Function (Syntax + Example)**

The VBA IPMT function is listed under the financial category of VBA functions. When you use it in a VBA code, **it calculates the interest of the payment, during a specific period for a loan or investment** that is paid by constant periodic payments and using a constant interest rate.

## Syntax

**IPmt(Rate, Per, Nper, Pv, [Fv], [Due])**

## Arguments

**Rate**: The rate of interest for the period.**Per**: The number of the periods for which you want to calculate the interest [It must be within 1 to Nper].**Nper**: The number of periods over which the loan or investment is to be paid.**PV**: The present value of investment or loan.**[FV]**: The future value of the loan/investment [This is an optional argument and if omitted VBA takes 0 by default].**[Due]**: Defines whether the payment is due at the start or the end of the period [This is an optional argument and if omitted VBA takes the end of the period by default].- Use 0 for the end of the period and 1 for the start of the period

## Example

To practically understand how to use VBA IPMT function, you need to go through the below example where we have written a vba code by using it:

```
Sub example_IPMT()
Range("A10") = IPmt(0.08 / 12, 1, 5 * 12, 60000)
End Sub
```

In the above code, we have used the IPMT to get the interest amount from the payment of the first month and it has returned -400 in the result and when we have used the 2 to get the interest from the second month it has returned -394.56.

## Notes

- While using IPMT any cash paid out is represented by a negative number and any cash received is represented by a positive number.
- If we supply Per which is 0 > or > NPer then VBA will return a run-time 5 error.

## Related Functions

DDB | FV | IRR | MIRR | NPER | NPV | PMT | PV | RATE | SLN | SYD