cumprinc - Amount of Principal Repaid CUMPRINC The amount...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Amount of Principal Repaid – CUMPRINC The amount of principal repaid, in a single payment or consecutive payments, can be calculated using Excel’s CUMPRINC 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 CUMPRINC function can be used. Notice that the CUMPRINC function appears in the formula bar. 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Using the CUMPRINC Function in a Spreadsheet To calculate the total amount of principal repaid between any two interest-payment periods, create a spreadsheet by following Steps 1 to 7. Or, to use the CUMPRINC function right away, open the CUMPRINC worksheet in the Excel Functions Templates workbook. All fields have been formatted for you (currency, percentage, number of decimals displayed). Step 1 : Enter CUMPRINC Function in cell A1. You will replace CUMPRINC Function with your project title when you use your spreadsheet for a particular question or situation. Step 2: In cell A3 enter
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/22/2009 for the course MATH 1101 taught by Professor Tonycirusolo during the Fall '05 term at Niagara College.

Page1 / 5

cumprinc - Amount of Principal Repaid CUMPRINC The amount...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online