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Amount of Interest Paid
– CUMIPMT
The amount of interest paid, in a single payment or consecutive payments, can be
calculated using Excel’s CUMIPMT function. See the table below for a detailed list
of the exercises and problems in the text that can be solved using this function.
This function is included in the Analysis ToolPak.
Syntax
=CUMIPMT(rate,nper,present value,start period,end period,type)
Rate – interest rate
NPER – total number of payment periods
Present Value – value of the investment today (0 if omitted)
Start Period – the first period in the calculation. Payment periods are
numbered beginning with 1.
End Period – the last period in the calculation
Type – when payment is to be made
0 – at end of period (assumed if left blank)
1 – at beginning of period
General Example
The following general example shows how the CUMIPMT function can be used. Notice
that the CUMIPMT function appears in the formula bar.
1
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View Full DocumentUsing the CUMIPMT Function in a Spreadsheet
To calculate the amount of interest paid, in a single or consecutive payments, create a
spreadsheet by following Steps 1 to 7. Or, to use the CUMIPMT function right away,
open the CUMIPMT worksheet in the Excel Functions Templates workbook. All fields
have been formatted for you (currency, percentage, number of decimals displayed).
Step 1
: Enter
CUMIPMT Function
in cell A1. You will replace
CUMIPMT Function
with your project title when you use your spreadsheet for a particular question or
situation.
Step 2
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 Fall '05
 TonyCirusolo
 Math

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