The ispmt function is providing unexpected results
 

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?

The ispmt function is providing unexpected results
 

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?