Documentation/How Tos/Calc: CUMIPMT function

CUMIPMT

Returns the total interest paid on a loan in specified periods.

Syntax:

CUMIPMT(rate; numperiods; value; start; end; type)

rate: the interest rate per period.

numperiods: the total number of payment periods remaining.

value: the current value of the loan.

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.

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.

See also:

CUMIPMT_ADD, IPMT, PPMT, CUMPRINC, CUMPRINC_ADD

Financial functions

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.