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Excel CUMIPMT Function

doc workday.intl function 1

If you want to follow along with this tutorial, please download the example spreadsheet.
doc workday.intl function 1

Description

The CUMIPMT function returns the cumulative interest paid on a load between the start period and end period. It can be used to calculate the total interest paid on a load, or to get the cumulative interest paid on a load between any two periods.

Syntax and arguments

Formula syntax

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

Arguments

  • Rate: Required, the interest rate per period.
  • Nper: Required, the total number of payments for the load.
  • Pv: Required, the present value.
  • Start_period: Required, the first payment of the two period.
  • End_period: Required, the last payment of the two period.
  • Type: Required, the timing type of the payment. There are two types, 0 indicates the payment at the end of the period, 1 indicates the payment at the beginning of the period.

Return Value

The CUMIPMT function returns a negative numeric value.

Errors

1. If the rate ≤ 0, nper ≤ 0, or pv ≤0, CUMIPMT function will return error value #NUM!.

2. If the start_period < 1, end_period < 1, or start_period > end_period, CUMIPMT function will return error value #NUM!.

3. If type is other numbers except 0 and 1, CUMIPMT function will return error value #NUM!.

Remarks

The argument rate and nper must be in the same units. For example, the rate is calculated by year, the nper is calculated by month, you need to get the monthly rate by using the yearly rate/12 firstly.

Version

Excel 2003 or later

Usage and Examples

Example 1 to get the total cumulative interest paid on a load

Supposing in range C3:C8 list the yearly interest rate, periods, load amount, start period, end period and type, please use the formula as below to calculate the total interest paid on a load.

=CUMIPMT(C3/12,C4,C5,C6,C7,C8)

Press Enter key to get the result.
doc workday.intl function 1

Example 2 to get the cumulative interest paid on a load between two specific periods

Supposing in range C3:C8 list the yearly interest rate, periods, load amount, start period such as 10, end period such as 20, and type, please use the formula as below to calculate the total interest paid on a load.

=CUMIPMT(C3/12,C4,C5,C6,C7,C8)

Press Enter key to get the result.
doc workday.intl function 1


Relative Functions:

  • Excel COUPDAYBS Function
    The COUPDAYBS function returns the number of days between the beginning of the coupon period and its settlement date.

  • Excel ACCRINT Function
    The ACCRINT function returns the accrued interest on periodic interest-paying securities.

  • Excel ACCRINTM Function
    The ACCRINTM function returns the accrued interest for a security that pays interest at maturity.

  • Excel AMORDEGRC Function
    The AMORDEGRC function returns the linear depreciation of an asset for each accounting period by applying a depreciation coefficient based on the lifetime of the assets.


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