Documentation/How Tos/Calc: CUMIPMT function
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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 interest is due:
- 0 - at the start of each period.
- 1 - at the end of each period.
Example:
CUMIPMT(5.5%/12; 12*2; 5000; 4; 6; 1)
- returns -57.54 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 57.54 currency units. It is given as negative because you pay it.
See also:
CUMIPMT_ADD, IPMT, PPMT, CUMPRINC, CUMPRINC_ADD
Issues:
- CUMIPMT formats the result as currency if the cell has default formatting. It returns a real currency amount. The CUMIPMT_ADD function is compatible with Excel; it does not apply formatting and can return fractional currency amounts, for example 57.5412415...