Microsoft Office Tutorials and References
In Depth Information
CUMIPMT
CUMIPMT
CUMIPMT returns the cumulative interest on a loan between start and stop dates.
=CUMIPMT(rate,nper,pv,start_period,end_period,type)
The CUMIPMT function is found only in the Analysis Toolpak. It must be turned on using the
AddIns command from the Tools menu. As you’ll see in Figure 6.11, the rate is 7% on the loan, the
number of payments on a 30-year mortgage is 360, and the present value of the loan is \$250,000.
The cumulative interest for the second year of the loan starts with 13 and ends with 24 (number
in months). The type is 0 (payment at the end of the period). The cumulative interest on the
loan for the second year of the mortgage is \$20,759.
The interest rate of the loan.
RATE
The number of payment periods.
NPER
The present value of the loan.
PV
The first payment period. Payment periods start with one.
START_PERIOD
The last period in the calculation.
END_PERIOD
The payment timing.
TYPE
Figure 6.11
Use CUMIPMT to return
the cumulative interest
on a loan between start
and stop dates.
A
Cell referencing
built this function
CUMPRINC
CUMPRINC returns the cumulative principal amount between start and stop dates on a loan or
mortgage.
=CUMPRINC(rate,nper,pv,start_period,end_period,type)
The CUMPRINC function is found only if the Analysis Toolpak is installed. It must be turned on
using the Add-Ins command from the Tools menu. When you look at Figure 6.12, you’ll see
that in this example, the rate is 7% on the loan. The number of payments on a 30-year
mortgage is 360. The present value of the loan is \$250,000. The cumulative interest for the second
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