Syntax: @CUMIPMT(R, N, P, S, E, T)
R = Rate, a numeric expression
N = Number of payments, an integer > 0
P = Present value
S = Starting period in calculation
E = Ending period in calculation
T = (Optional) timing of the payment:
0 | payment is made at the end of the period |
1 | payment is made at the beginning of the period |
@CUMIPMT returns the cumulative interest paid between S (the start) and E (the end) on a loan.
Make sure that you are consistent about the units used for specifying R and N. For example, for a 4-year loan with 10% annual interest rate, use 10%/12 for R and 4*12 for N)
Example:
@CUMIPMT(9.5%/12, 30*12, 100000, 1, 12, 0) = 9473.61