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