Excel

CUMIPMT: Excel Formulae Explained

How do you use CUMIPMT in Excel?

The CUMIPMT function in Excel calculates the cumulative interest paid on a loan or investment over a given period of time. The function takes three arguments: the loan amount, the interest rate, and the number of payments. It then calculates the cumulative interest paid on the loan or investment up to the given payment number.

What is the syntax of CUMIPMT in Excel?

The syntax of the CUMIPMT function in Excel is as follows:

=CUMIPMT(rate,per,nper,pv,fv,type)

Where:

rate is the periodic interest rate per is the number of payments per year nper is the number of payments pv is the present value fv is the future value type is 0 for payments made at the end of the period, 1 for payments made at the beginning of the period.

What is an example of how to use CUMIPMT in Excel?

The CUMIPMT function in Excel calculates the cumulative interest paid on a loan or investment over a given number of periods. For example, if you have a loan with a principal of $10,000 and a interest rate of 6%, the CUMIPMT function would calculate the cumulative interest paid over the life of the loan. To use the CUMIPMT function in Excel, you would enter the following formula: =CUMIPMT(rate, periods, principal) where rate is the interest rate, periods is the number of periods, and principal is the principal amount.

When should you not use CUMIPMT in Excel?

There are a few occasions when you should not use the CUMIPMT function in Excel. One such occasion is when you want to calculate the interest for a series of uneven payments. In this case, you would want to use the IPMT function. Another time you should not use CUMIPMT is when you want to calculate the interest on a loan that has already been paid off.

What are some similar formulae to CUMIPMT in Excel?

The Microsoft Excel CUMIPMT function calculates the cumulative interest paid on a loan or investment over a given number of periods. The function takes four arguments: the loan amount, the interest rate, the number of periods, and the payment frequency. The CUMIPMT function calculates the cumulative interest paid on the loan or investment up to the given number of periods. The function does not take into account the final payment, which is why the final payment amount should be manually entered as the last argument.

Some similar formulae to CUMIPMT in Excel include the CUMPRINC, CUMIPMTB, and CUMPRINCB functions. The CUMPRINC function calculates the cumulative principal paid on a loan or investment over a given number of periods. The function takes four arguments: the loan amount, the interest rate, the number of periods, and the payment frequency. The CUMPRINC function calculates the cumulative principal paid on the loan or investment up to the given number of periods. The function does not take into account the final payment, which is why the final payment amount should be manually entered as the last argument.

The CUMIPMTB function calculates the cumulative interest paid and principal paid on a loan or investment over a given number of periods. The function takes four arguments: the loan amount, the interest rate, the number of periods, and the payment frequency. The CUMIPMTB function calculates the cumulative interest paid and principal paid on the loan or investment up to the given number of periods. The function takes into account the final payment, which is why the final payment amount should be manually entered as the last argument.

The CUMPRINCB function calculates the cumulative interest paid and principal paid on a loan or investment over a given number of periods. The function takes four arguments: the loan amount, the interest rate, the number of periods, and the payment frequency. The CUMPRINCB function calculates the cumulative interest paid and principal paid on the loan or investment up to the given number of periods. The function takes into account the final payment, which is why the final payment amount should be manually entered as the last argument.

Move beyond 

Excel

Get started with Causal today.
Build models effortlessly, connect them directly to your data, and share them with interactive dashboards and beautiful visuals.