CUMIPMT
The interest paid on a loan from one period to another, together.
Group: Financial. Compatible with DAX.
Syntax
CUMIPMT ( <rate>, <nper>, <pv>, <start_period>, <end_period>, <type> )| Parameter | Type | Description |
|---|---|---|
rate | Number | The interest rate per period. For monthly payments on a yearly rate, divide that rate by 12. |
nper | Number | How many payment periods there are, all told. |
pv | Number | The amount borrowed: it must be more than 0. |
start_period | Number | The first period of the stretch, counting from 1. |
end_period | Number | The last period of the stretch. |
type | Number | When the payments fall: 0 at the end of each period, 1 at its start. Required here. |
Returns
Number. The interest paid over those periods, added up; negative, as it is paid out.
Remarks
- The interest parts of the level payments
PMTgives, from start_period to end_period: the same as addingIPMTfor each of them. - Unlike
PMTand the functions like it, pv must be positive here (a loan received) and the answer is always negative. - All of rate, nper and pv must be above 0, and type exactly 0 or 1. The start and end periods are rounded to whole numbers; a start below 1, an end before the start or an end after nper is an error.
- Give rate and nper in the same period: 6 % a year paid monthly for 4 years is a rate of 0.06 / 12 and an nper of 48.
Examples
Interest in the first two years of a loan
2,000,000 at 4.5 % a year, repaid monthly over 10 years: months 1 to 12, then 13 to 24.
EVALUATE
ROW (
"Year 1", CUMIPMT ( 0.045 / 12, 120, 2000000, 1, 12, 0 ),
"Year 2", CUMIPMT ( 0.045 / 12, 120, 2000000, 13, 24, 0 )
)| Year 1 | Year 2 |
|---|---|
| -86684.8782562849 | -79240.4535191654 |