CUMIPMT( ) function
Returns the cumulative interest paid on a loan during a range of periods.
Syntax
CUMIPMT(rate, periods, amount, start_period, end_period <,type>)
Parameters
| Name | Type | Description |
|---|---|---|
| rate | numeric |
The interest rate per period. |
| periods | numeric |
The total number of payment periods. |
| amount | numeric |
The principal amount of the loan. |
|
start_period |
numeric |
The first period in the calculation. start_period cannot be 0. |
| end_period | numeric |
The last period in the calculation. end_period cannot be greater than the total number of payment periods. |
|
type optional |
numeric |
The timing of payments:
If omitted, the default value of 0 is used. |
Note
You must use consistent time periods when specifying rate and periods to ensure that you are specifying interest rate per period.
For example:
- for monthly payments on a two-year loan or investment with interest of 5% per annum, specify 0.05/12 for rate and 2 * 12 for periods
- for annual payments on the same loan or investment, specify 0.05 for rate and 2 for periods
Output
Numeric.
Examples
Basic examples
Returns 17437.23, the total amount of interest paid in the second year of a twenty-five year, $275,000 loan at 6.5% per annum, with payments due at the end of the month:
CUMIPMT(0.065/12, 12*25, 275000, 13, 24, 0)
Returns 17741.31, the total amount of interest paid on the same loan in the first year of the loan:
CUMIPMT(0.065/12, 12*25, 275000, 1, 12, 0)
Remarks
Related functions
The CUMPRINC( ) function is the complement of the CUMIPMT( ) function.
The IPMT( ) function calculates interest paid for a single period.
ACL Scripting Guide 14.1