## Calculate loan interest in given year in Excel

To calculate the total interest for a loan in a given year, you can use the CUMIPMT function. Formula =CUMIPMT(rate,nper,pv,start,end,type) Explanation In the example shown, the total interest paid in year 1 is calculated by using 1 for start period and 12 for end period. The The formula in F5 is: =CUMIPMT(5%/12,60,30000,1,12,0) Note: values hardcoded for readability only. …