Difference between revisions of "Documentation/How Tos/Calc: CUMIPMT ADD function"
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[[Documentation/How_Tos/Calc: Financial functions|'''Financial functions''']] | [[Documentation/How_Tos/Calc: Financial functions|'''Financial functions''']] | ||
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| + | [[Documentation/How_Tos/Calc: Functions listed alphabetically|'''Functions listed alphabetically''']], | ||
| + | [[Documentation/How_Tos/Calc: Functions listed by category|'''Functions listed by category''']] | ||
=== Issues: === | === Issues: === | ||
* '''CUMIPMT_ADD''' is compatible with Excel; it does not apply currency formatting and thus can show fractional amounts, for example 57.5412415... The [[Documentation/How_Tos/Calc: CUMIPMT function|'''CUMIPMT''']] function formats the result as currency if the cell has default formatting, and thus shows a real (rounded) currency amount, for example $57.54; the amount may still be fractional - this just affects the display. | * '''CUMIPMT_ADD''' is compatible with Excel; it does not apply currency formatting and thus can show fractional amounts, for example 57.5412415... The [[Documentation/How_Tos/Calc: CUMIPMT function|'''CUMIPMT''']] function formats the result as currency if the cell has default formatting, and thus shows a real (rounded) currency amount, for example $57.54; the amount may still be fractional - this just affects the display. | ||
* According to the forthcoming ODFF standard, this function is to be renamed [[Documentation/How_Tos/Calc: CUMIPMT function|'''CUMIPMT''']], and the existing '''CUMIPMT''' removed. | * According to the forthcoming ODFF standard, this function is to be renamed [[Documentation/How_Tos/Calc: CUMIPMT function|'''CUMIPMT''']], and the existing '''CUMIPMT''' removed. | ||
Revision as of 06:08, 13 September 2008
CUMIPMT_ADD
Returns the total interest paid on a loan in specified periods.
This function is only available if the Analysis AddIn is installed.
Syntax:
CUMIPMT_ADD(rate; numperiods; principal; start; end; type)
- rate: the interest rate per period.
- numperiods: the total number of payment periods in the term.
- principal: the initial sum borrowed.
- 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 (including a payment at the start of the term).
- With a fixed rate loan, where you make a constant payment each period to pay off the loan over the term, some of each period payment is interest on the outstanding capital, and some is a repayment of capital. Over time (as you pay off capital), the interest becomes less and the capital repayment becomes more.
- IPMT returns the interest paid in the specified period. PPMT returns the capital repaid in that period. Together they add up to the periodic payment, given by PMT.
- CUMIPMT_ADD returns the total interest paid during the periods start to end inclusive - that is, the sum of IPMT over that time.
Example:
CUMIPMT_ADD(5.5%/12; 12*2; 5000; 4; 6; 0)
- returns approximately -57.80. 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, PMT, IPMT, PPMT, CUMPRINC, CUMPRINC_ADD
Functions listed alphabetically, Functions listed by category
Issues:
- CUMIPMT_ADD is compatible with Excel; it does not apply currency formatting and thus can show fractional amounts, for example 57.5412415... The CUMIPMT function formats the result as currency if the cell has default formatting, and thus shows a real (rounded) currency amount, for example $57.54; the amount may still be fractional - this just affects the display.
- According to the forthcoming ODFF standard, this function is to be renamed CUMIPMT, and the existing CUMIPMT removed.
