CUMPRINC(rate, periods, amount, start_period, end_period <,type>)
Numeric. The interest rate per period.
Numeric. The number of payment periods in the term of the loan.
Numeric. The principal amount of the loan.
Numeric. The first period of the calculation.
Numeric. The last period of the calculation.
Optional. Numeric constant. Specifies whether payments are due at the beginning or end of the period. Use the default of 0 for payments that are due at the end of a period, or 1 for payments that are due at the beginning of a period.
Numeric.
You must use consistent units to specify rate and periods. For example, if you make monthly payments on a two-year loan at a rate of 6 percent, use 0.06/12 for rate and 2 * 12 for periods. If you make annual payments on the same loan, use 0.06 for rate and 2 for periods.
Calculating the principal repaid on a loan
Use the following to find the amount paid against the principal in the second year of a twenty-five year, $275,000 mortgage at 6.5 percent per annum, with payments due at the end of the month:
CUMPRINC(0.065 / 12, 12*25, 275000, 13, 24)
returns 4844.61. The amount paid against the principal is $4844.61.
Use the following to find the amount paid against the principal on the same mortgage in a single payment in the first month:
CUMPRINC(0.065 / 12, 12*25, 275000, 1, 1)
returns 367.24. The amount paid against the principal is $367.24.