Manuals/calci/CUMPRINC

CUMPRINC(Rate,NoPaymentPeriods,PresentValue,StartPeriod,EndPeriod,Type)

Where $Rate$ is the interest rate, per peroid,
$NoPaymentPeriods$ is the number of periods over which the loan or investment is to be paid,
$PresentValue$ is the present value of loan or investment,
$StartPeriod$ is the number of the first period over which the interest is to be calculated,
$EndPeriod$ is the number of the last period over which the interest is to be calculated,
specifies whether the payment is made at the start or end of the period.
- CUMPRINC(), returns the cumulative principal paid on a loan between two periods.

Description

CUMPRINC(Rate,NoPaymentPeriods,PresentValue,StartPeriod,EndPeriod,Type)

must be an integer between 1 and .

must be an integer between 1 and .

should be smaller than . Else Calci displays #NUM !error message.

If or is <=0, then Calci displays #NUM !error message.

If or is > , then Calci displays #NUM !error message.

value is an integer value (either 0 or 1).

0 indicates the payment is made at the end of the period;
1 indicates the payment is made at the start of the period.

If value is other than 0 or 1, Calci displays #N/A error message.

Examples

Consider the following example that shows the use of CUMPRINC function:

Cumulative payment on the principal, during each year of a loan of $30,000 that is to be paid off over 4 years, with an interest rate of 4% per year. Payment is to be made at the end of each month.

The payments are made monthly, so we have converted the annual interest rate of 4% into a monthly rate (=4%/12).

The number of years into months (=4*12).

Formulas:

A	B
Year 1	=CUMPRINC(4%/12,48,30000,1,12,0)
Year 2	=CUMPRINC(4%/12,48,30000,13,24,0)
Year 3	=CUMPRINC(4%/12,48,30000,25,36,0)
Year 4	=CUMPRINC(4%/12,48,30000,37,48,0)