CUMIPMT Function Explained
The CUMIPMT Function in Microsoft Excel calculates the cumulative interest paid on a loan between a start period and an end period. It takes the following arguments: rate, nper, pv, start_period, end_period, type. It returns the cumulative interest paid on the loan for the specified period.
CUMIPMT Function Syntax
CUMIPMT(rate, nper, pv, start_period, end_period, type)
- rate: The interest rate for the loan.
- nper: The total number of payments for the loan.
- pv: The present value, or the total amount that a series of future payments is worth now.
- start_period: The first period in the calculation.
- end_period: The last period in the calculation.
- type: A number 0 or 1 and indicates when payments are due. 0 indicates payments are due at the end of the period and 1 indicates payments are due at the beginning of the period.