# IPmt() Function in MS Access

**IPmt() Function **in MS Access is used to return a double specifying the interest payment for a given period of an annuity based on periodic, fixed payments and a fixed interest rate.

**Syntax :**

IPmt (rate, per, nper, pv [, fv ] [, type ])

**Parameter : **This method accepts six parameters in the syntax, as mentioned above and described below :

**rate :**It is in Double specifying interest rate per period. If annual percentage rate (APR) is 5 percent and monthly payments, the rate per period is 0.05/12.**per :**It is in Double specifying payment period in the range 1 through nper.**nper :**It is in Double specifying total number of payment periods in the annuity. For example, if monthly payments done on a five-year car loan, then the loan has a total of 5 * 12 = 60 payment periods.**pv :**It is in Double specifying present value, or value today, of a series of future payments or receipts.**fv :**It is optional. It identifies future value or cash balance you want after you have made the final payment. Default value is 0.**type :**It is optional. It specifies when payments are due. 0 is used if payments are due at the end of the payment period, or 1 if payments are due at the beginning of the period. If omitted, 0 is assumed.

**Returns : **It returns in double specifying the interest payment.

**Note : **The **rate **and **nper **arguments must be calculated using payment periods expressed in the same units. For example, if **rate **is calculated using months, **nper **must also be calculated using months.

**Example-1 : **

Interest paid in 10 per of Rs. 100000 when annual rate is 8 % and TermInYears is 5.

SELECT IPMT(0.08/12, 10, 5*12, -100000, 0, 0) AS Interest_Paid ;

**Output :**

Interest_Paid |
---|

582.796530417576 |

**Example-2 :**

Interest payment calculation for every account-id in a table of Accounts.

**Table – **Accounts

AccountId | LoanAmount | AnnualRate | TermInYears |
---|---|---|---|

11001 | 100000 | 0.10 | 5 |

11002 | 120000 | 0.10 | 6 |

11003 | 150000 | 0.10 | 4 |

11004 | 900000 | 0.10 | 6 |

SELECT IPMT([AnnualRate]/12, 10, [TermInYears]*12, -[LoanAmount], 0, 0) AS INTPaid FROM Accounts;

**Output :**

INTPaid |
---|

733.18850390563 |

905.149502978079 |

1051.90923080389 |

6788.62127233559 |