Hello:

The help file says that ISPMT is provided for compatibility with Lotus 1-2-3.
(in fact I don't think the later versions of Lotus had this function either,
version 9 has @ipaymt)
So unless you are using Lotus, IPMT function provides the answers you expected.

Pieter Vandenberg

Louis Zaffino wrote:
: The ispmt funtion when calculating for period 1 should provide the same
: answer as multiply the monthly interest rate times the principal balance
: because no amortization has occured yet. The answer I'm getting is less than
: what is correct. What wrong?