Microsoft Office Tutorials and References
In Depth Information
Using CUMIPMT to Calculate Total Interest Payments During a Time Frame
period. A value of 1 means the payments are due at the beginning of
The nper, start_period, end_period, and typearguments are truncated to in-
tegers. If rateis less than or equal to 0, nperis less than or equal to 0, or pv
is less than or equal to 0, CUMIPMT returns a #NUM! error. If start_period
is less than 1, end_periodis less than 1, or start_periodis greater than
end_period, CUMIPMT returns a #NUM! error. If typeis any number other
than 0 or 1, CUMIPMT returns a #NUM! error.
Figure 13.8 calculates the total interest paid during each year of the loan.
The mildly difficult portion of the sample spreadsheet is that the number
of months in the first year will likely be less than 12. Cell D12 uses
=13-MONTH(B5). Cell C13 uses =D12+1. Cell D13 uses =C12+11 to calculate
the last period for each year.
Figure 13.8. Use column E to plan your tax deductions by year.
Use column E to plan your tax deductions by year.
Column F of this spreadsheet uses CUMPRINC, which is discussed in the next