Help with IPMT formula (or similar)

[CraigG]

Hi

I need to calculate the interest payable on loans in the future. I'm new to the IPMT formula and tried to get this to work on previous loan information I've been given so I could check I was using it correctly. However, I can't get the formula's results to match the actual interest figures.

So the data I have...
Loan of £103,995
Borrowed over 20 years
Started on 15/12/2016
Interest rate 2.24% (which is fixed for 5 years then goes to a variable rate)

	A	B	C	D	E	F	G
1	Date	Description	Credit	Debit	Remaining	Formula	Formula results
2	15/12/2016	Loan		103,995.00	103,995.00
3	27/01/2017	Payment	646.05		103,348.95
4	31/01/2017	Interest		305.85	103,654.80	=IPMT(2.24%/12,1,20*12,E3)	192.92
5	27/02/2017	Payment	537.85		103,116.95
6	28/02/2017	Interest		178.05	103,295.00	=IPMT(2.24%/12,1,20*12,E5)	192.48
7	27/03/2017	Payment	537.85		102,757.15
8	31/03/2017	Interest		196.35	102,953.50	=IPMT(2.24%/12,1,20*12,E7)	191.81
9	27/04/2017	Payment	537.85		102,415.65
10	30/04/2017	Interest		189.42	102,605.07	=IPMT(2.24%/12,1,20*12,E9)	191.18

I'm obviously doing something wrong with the formula as the formula results (column G) don't match the actual interest charged (column D). Can anyone please point out what I'm doing wrong.

Thanks