## ISPMT Function

The ISPMT function in Google Sheets calculates the interest paid during a specific period of an investment.

### Syntax

```
ISPMT(rate, period, number_of_periods, present_value)
```

`rate`

: The interest rate per period. This is a required parameter.`period`

: The specific period for which you want to calculate the interest. This is a required parameter.`number_of_periods`

: The total number of payment periods. This is a required parameter.`present_value`

: The present value, or the total amount that a series of future payments is worth now. This is a required parameter.

### Examples

**Interest Calculation for a Specific Period**

Calculate the interest for the 2nd period on a $1000 loan with an annual interest rate of 5% over 5 years:

```
=ISPMT(5%/12, 2, 60, 1000)
```

This will output approximately -$8.06.

### Notes

- ISPMT is used for calculating the interest part of a payment before the loan amortization is calculated.