ISPMT Google Sheet Formula

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ISPMT Formula Syntax

=ISPMT(0.05/12, 1, 360, 200000)

Example Use Case

Calculating the interest payment for a loan with straight-line amortization

Understanding the ISPMT Formula

The ISPMT function in Excel calculates the interest payment for a specified period of a loan with straight-line amortization (equal principal payments). It's a specialized loan tool for even principal reduction—like analyzing certain types of commercial loans or special financing arrangements.

ISPMT(0.05/12, 1, 360, 200000) calculates the interest portion of the first payment on a $200,000, 30-year loan at 5% annual interest with straight-line amortization. It takes rate, per, nper, pv arguments, computing interest based on the remaining principal—useful for analyzing loans with non-standard amortization.

Why Use ISPMT?

ISPMT analyzes non-standard loans—think equal principal payment structures or specialized financing. Its straight-line calculation differs from standard amortization (which has equal total payments), making it valuable for commercial loans, certain mortgages, or financial products with equal principal reduction.

Example with Sample Data

Parameters	Formula	Result
Rate: 5%/12 (monthly) Period: 1 Term: 360 months Principal: $200,000	=ISPMT(0.05/12, 1, 360, 200000)	-$832.87
Same loan Period: 180	=ISPMT(0.05/12, 180, 360, 200000)	-$418.30
Same loan Period: 359	=ISPMT(0.05/12, 359, 360, 200000)	-$2.32

ISPMT calculates straight-line interest: -$832.87 interest in the first payment, decreasing steadily to -$2.32 by the second-to-last payment. It's a specialized interest calculator.