ModeldrillSplit payments with IPMT and PPMT
A financial modeling exercise from Modeldrill. Solve it with a live spreadsheet grid in your browser, with Fill right and Fill down, and it is checked the moment you submit.
The task
For the months listed in column A, split the monthly payment into interest (IPMT, column B) and principal (PPMT, column C) without building a full table. Column D adds them back up. Show all three as positive numbers.
What this exercise teaches
IPMT and PPMT always add up to the PMT amount, which column D confirms. They are handy for checking a single month of a schedule without rebuilding it.
A hint if you get stuck
Both functions take (rate, period, number of periods, present value). The period comes from column A and is the only part that should move.
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