In this article, I’m going to explain both types of loans, show you how to create amortization tables for them, and then use those tables to illustrate the ISPMT and IPMT functions in action. But unfortunately, the two help topics for these functions don’t make it clear which type of loan each function supports. Microsoft recognizes those loan types by giving us the Excel functions ISPMT and IPMT, which tell us the amount of interest we’ll pay with each type of loan on a specific period. When you borrow money for a fixed period with periodic payments, you could have two types of loans: even-payment or straight-line.
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