Difference between revisions of "Documentation/How Tos/Calc: CUMIPMT function"
From Apache OpenOffice Wiki
< Documentation | How Tos
OOoWikiBot (talk | contribs) m (Robot: Automated text replacement %s) |
|||
Line 40: | Line 40: | ||
=== Issues: === | === Issues: === | ||
− | * '''CUMIPMT''' formats the result as currency if the cell has default formatting. It thus displays a real currency amount. The | + | * '''CUMIPMT''' formats the result as currency if the cell has default formatting. It thus displays a real currency amount. The [[Documentation/How_Tos/Calc: CUMIPMT_ADD function|CUMIPMT_ADD]] function is compatible with Excel; it does not apply formatting and can thus show fractional currency amounts, for example 57.5412415... The amount returned by '''CUMIPMT''' may still be fractional - the display rounds this to the nearest real currency. Note that your loan provider might round in a different way (for example always downwards). |
− | * According to the forthcoming ODFF standard, this function is to be removed, and | + | * According to the forthcoming ODFF standard, this function is to be removed, and [[Documentation/How_Tos/Calc: CUMIPMT_ADD function|CUMIPMT_ADD]] is to be renamed '''CUMIPMT'''. |
* In contrast to '''PMT''', '''IMPT''', '''PPMT''', this function has no <tt>'''futurevalue'''</tt> parameter. | * In contrast to '''PMT''', '''IMPT''', '''PPMT''', this function has no <tt>'''futurevalue'''</tt> parameter. |
Revision as of 13:41, 25 February 2009
CUMIPMT
Returns the total interest paid on a loan in specified periodic payments.
Syntax:
CUMIPMT(rate; numperiods; presentvalue; start; end; type)
- rate: the interest rate per period.
- numperiods: the total number of payment periods in the term.
- presentvalue: the initial sum borrowed.
- start: the first period to include. Periods are numbered beginning with 1.
- end: the last period to include.
- type: when payments are made:
- 0 - at the end of each period.
- 1 - at the start of each period (including a payment at the start of the term).
- With a fixed rate loan, where you make a constant payment each period to pay off the loan over the term, some of each period payment is interest on the outstanding capital, and some is a repayment of capital. Over time (as you pay off capital), the interest becomes less and the capital repayment becomes more.
- IPMT returns the interest in the payment of a specified period. PPMT returns the capital repaid in the payment of that period. Together they add up to the actual payment, given by PMT.
- CUMIPMT returns the total interest in payments during the periods start to end inclusive - that is, the sum of IPMT over that time.
Example:
CUMIPMT(5.5%/12; 12*2; 5000; 4; 6; 0)
- returns -57.80 in currency units. You took out a 2 year loan of 5000 currency units at a yearly interest rate of 5.5%, making monthly payments at the end of the month. The interest you pay in the 4th-6th months inclusive is 57.80 currency units. It is given as negative because you pay it.
Template:Documentation/SeeAlso
Issues:
- CUMIPMT formats the result as currency if the cell has default formatting. It thus displays a real currency amount. The CUMIPMT_ADD function is compatible with Excel; it does not apply formatting and can thus show fractional currency amounts, for example 57.5412415... The amount returned by CUMIPMT may still be fractional - the display rounds this to the nearest real currency. Note that your loan provider might round in a different way (for example always downwards).
- According to the forthcoming ODFF standard, this function is to be removed, and CUMIPMT_ADD is to be renamed CUMIPMT.
- In contrast to PMT, IMPT, PPMT, this function has no futurevalue parameter.