Excel CUMIPMT Function
If you want to follow along with this tutorial, please download the example spreadsheet.
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
Arguments
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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.
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.
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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