IPMT Function for fractional periods
 

I'm want to know, for an equal amortizing loan, the interest amount for each
period. However, the first period is a fractional period. It starts today
and calculated until the beginning of Sept. I'm not sure how to use the PMT
and IPMT functions for fractional periods. thx

IPMT Function for fractional periods
 

Adjust the units you express the period in to days (or half months or weeks, whatever your requirements are).
Of course you'll have to adjust the interest rates accordingly.

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"Woody13" wrote in message ...
| I'm want to know, for an equal amortizing loan, the interest amount for each
| period. However, the first period is a fractional period. It starts today
| and calculated until the beginning of Sept. I'm not sure how to use the PMT
| and IPMT functions for fractional periods. thx