Difference between revisions of "Documentation/How Tos/Calc: CUMIPMT function"
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* '''CUMIPMT''' formats the result as currency if the cell has default formatting. It thus displays a real currency amount. The [[Documentation/How_Tos/Calc: CUMIPMT_ADD function|'''CUMIPMT_ADD''']] function is compatible with Excel; it does not apply formatting and can thus show fractional currency amounts, for example 57.5412415... The amount returned by '''CUMIPMT''' may still be fractional - the display rounds this to the nearest real currency. Note that your loan provider might round in a different way (for example always downwards). | * '''CUMIPMT''' formats the result as currency if the cell has default formatting. It thus displays a real currency amount. The [[Documentation/How_Tos/Calc: CUMIPMT_ADD function|'''CUMIPMT_ADD''']] function is compatible with Excel; it does not apply formatting and can thus show fractional currency amounts, for example 57.5412415... The amount returned by '''CUMIPMT''' may still be fractional - the display rounds this to the nearest real currency. Note that your loan provider might round in a different way (for example always downwards). | ||
| − | * | + | * According to the forthcoming ODFF standard, this function is to be removed, and [[Documentation/How_Tos/Calc: CUMIPMT_ADD function|'''CUMIPMT_ADD''']] is to be renamed '''CUMIPMT'''. |
Revision as of 04:25, 12 July 2008
CUMIPMT
Returns the total interest paid on a loan in specified periods.
Syntax:
CUMIPMT(rate; numperiods; value; start; end; type)
- rate: the interest rate per period.
- numperiods: the total number of payment periods remaining.
- value: the current value of the loan.
- start: the first period to include. Periods are numbered beginning with 1.
- end: the last period to include.
- type: when payments are made:
- 0 - at the end of each period.
- 1 - at the start of each period.
Example:
CUMIPMT(5.5%/12; 12*2; 5000; 4; 6; 0)
- returns -57.80 in currency units. You took out a 2 year loan of 5000 currency units at a yearly interest rate of 5.5%, making monthly payments at the end of the month. The interest you pay in the 4th-6th months inclusive is 57.80 currency units. It is given as negative because you pay it.
See also:
CUMIPMT_ADD, IPMT, PPMT, CUMPRINC, CUMPRINC_ADD
Issues:
- CUMIPMT formats the result as currency if the cell has default formatting. It thus displays a real currency amount. The CUMIPMT_ADD function is compatible with Excel; it does not apply formatting and can thus show fractional currency amounts, for example 57.5412415... The amount returned by CUMIPMT may still be fractional - the display rounds this to the nearest real currency. Note that your loan provider might round in a different way (for example always downwards).
- According to the forthcoming ODFF standard, this function is to be removed, and CUMIPMT_ADD is to be renamed CUMIPMT.
