CUMPRINC Function Explained
The CUMPRINC Function in Microsoft Excel calculates the cumulative principal paid on a loan between two periods. It takes three arguments: rate, nper, and pv. Rate is the interest rate per period, nper is the total number of payment periods, and pv is the present value of the loan. The result is the cumulative principal paid over the specified period.
CUMPRINC Function Syntax
CUMPRINC(rate, nper, pv, start_period, end_period, type)
- rate: The interest rate for the loan.
- nper: The total number of payment periods 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 logical value that indicates when payments are due. If type is omitted, it is assumed to be 0.