2021 Microsoft Formulas and Functions: A Simplified Guide With Examples on how to take advantage of built-in Excel Formulas and Functions by Sibley Kelvin & Sibley Kelvin

Author:Sibley , Kelvin & Sibley , Kelvin [Sibley , Kelvin]
Language: eng
Format: epub
Published: 2021-04-27T00:00:00+00:00

What is the CUMIPMT Function?

The CUMIPMT Function is one of the most important financial functions in Excel. The CUMIPMT helps users in calculating the actual cumulative interest paid on a loan taken out, or earnings on an investment made.

Formula

=CUMIPMT(rate, nper, pv, start_period, end_period, type)

The CUMIPMT function uses the following arguments:

Rate (required argument) – This correspond to the rate of interest per period.

Nper (required argument) – This refers to the total number of payment periods for which the investment or loan is to be paid.

Pv (required argument) – This correspond to the Present Value of the investment or loan.

Start_period (required argument) – This refers to the number of the first period over which your interest is to be calculated. This must be an integer between 1 and the specified NPER.

End_period (required argument) – This corresponds to the last period over which your interest is to be calculated. This must be an integer between 1 and the specified NPER.

Type (required argument) – The value here can be 0 or 1. And it is an integer that specifies if the interest payment is made at the start of the period (0) or the end of the period (1).

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