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: 0 – payment at the end of a period 1 – payment at the beginning of a period 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.