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Tag: CUMIPMT function

CUMIPMT function: Description, Usage, Syntax, Examples and Explanation

What is CUMIPMT function in Excel? CUMIPMT function is one of the Financial functions in Microsoft Excel that returns the cumulative interest paid on a loan between start_period and end_period. Syntax of CUMIPMT function CUMIPMT(rate, nper, pv, start_period, end_period, type) The CUMIPMT function syntax has the following arguments: Rate: The interest rate. Nper: The total number of payment periods. Pv: The…

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. How this formula works For…