Google Sheets

CUMIPMT: Google Sheets Formulae Explained

How do you use CUMIPMT in Google Sheets?

The CUMIPMT function in Google Sheets calculates the cumulative interest paid on a loan or investment over a period of time. You can use this function to track payments and interest over time, and see the total amount paid on the loan or investment. To use the CUMIPMT function, you'll need to input the loan amount, the interest rate, and the number of payments. You can also include a starting payment date if you'd like to calculate interest for a specific period of time.

What is the syntax of CUMIPMT in Google Sheets?

The syntax for CUMIPMT in Google Sheets is as follows: =CUMIPMT(rate,nper,pmt,pv,fv,type) rate - The interest rate per period. nper - The number of periods. pmt - The payment per period. pv - The present value. fv - The future value. type - The type of payment. 0 - Annuity due. 1 - Annuity due. 2 - Annuity due. 3 - Annuity due. 4 - Annuity due. 5 - Annuity due. 6 - Annuity due. 7 - Annuity due. 8 - Annuity due. 9 - Annuity due. 10 - Annuity due. 11 - Annuity due. 12 - Annuity due. 13 - Annuity due. 14 - Annuity due. 15 - Annuity due. 16 - Annuity due. 17 - Annuity due. 18 - Annuity due. 19 - Annuity due. 20 - Annuity due. 21 - Annuity due. 22 - Annuity due. 23 - Annuity due. 24 - Annuity due. 25 - Annuity due. 26 - Annuity due. 27 - Annuity due. 28 - Annuity due. 29 - Annuity due. 30 - Annuity due.

What is an example of how to use CUMIPMT in Google Sheets?

The CUMIPMT function calculates the cumulative interest paid on a loan or investment over a given number of payments. In Google Sheets, you can use the CUMIPMT function to calculate the total interest paid on a loan over its lifetime. For example, if you have a loan with a principal of $10,000 and a interest rate of 5%, the CUMIPMT function will calculate the total interest paid on the loan over its lifetime. To use the CUMIPMT function in Google Sheets, you can enter the following formula: =CUMIPMT(rate,nper,pv,fv,type) The rate argument is the interest rate for the loan. The nper argument is the number of payments for the loan. The pv argument is the principal of the loan. The fv argument is the final value of the loan. The type argument is the payment type. If the type argument is 0 (the default), the function will calculate the cumulative interest paid on the loan. If the type argument is 1, the function will calculate the cumulative interest paid on the investment.

When should you not use CUMIPMT in Google Sheets?

There are a few occasions when you should not use the CUMIPMT function in Google Sheets. One such example is when you are trying to calculate the interest for a loan that does not have a fixed interest rate. In this case, you would need to use the PV function to calculate the present value of the loan, and then the FV function to calculate the future value. Another instance where you should not use the CUMIPMT function is when you are trying to calculate the interest for a loan that does not have a fixed length. In this case, you would need to use the NPER function to calculate the number of periods, and then the PMT function to calculate the monthly payment.

What are some similar formulae to CUMIPMT in Google Sheets?

There are a few similar formulae to CUMIPMT in Google Sheets. One is CUMPRICE, which calculates the cumulative price of a list of items. Another is CUMIPMR, which calculates the cumulative interest paid on a list of items. Finally, there is CUMPRINC, which calculates the cumulative principle paid on a list of items.

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