CUMIPMT
The CUMIPMT function returns the cumulative interest paid between two periods.
Syntax
CUMIPMT (Rate, Nper, PV, start_period, end_period, Type) - > Number
Arguments
Rate
Number, Node reference
The interest rate per period.
Nper
Number
The total number of periods.
PV
Number
The present value of the loan.
start_period
Number
The first payment period.
end_period
Number
The last payment period.
Type
Number
Indicates when the payments are made. Type is zero if payments are made at the end of the period and non-zero if payments are made at the start of the period.
Example
Consider a $10,000 loan at an annual rate of 10% that is to be paid off in 1.5 years. All payments are made at the beginning of the month. Calculate Cumulative Interest Payments for all periods.
Rate
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
Number of Years
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
Loan Amount
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
10000
Start Period
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
End Period
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Payments Type
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
To achieve this, the following formula should be written in the [Cumulative Interest Payments] node:
CUMIPMT ([Rate]/12,[Number of Years]*12,[Loan Amount],1,[End Period],1)
Result
Cumulative Interest Payments
0
-78.369938
-152.42956
-222.14296
-287.4739
-348.38588
-404.84206
-456.80531
-504.238192
-547.102955
-585.361529
-618.97553
-647.906252
-672.114668
-691.561427
-706.206846
-716.010916
-720.933291
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