# Manuals/calci/CUMIPMT

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# CUMIPMT(Rate,NoPaymentPeriods,PresentValue,StartPeriod,EndPeriod,Type)

- Where is the interest rate, per peroid,
- is the number of periods over which the loan or investment is to be paid,
- is the present value of loan or investment,
- is the number of the first period over which the interest is to be calculated,
- 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.

CUMIPMT() calculates the cumulative interest paid on a loan or an investment, between two specific periods.

## Description

CUMIPMT(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 CUMIPMT function:

Cumulative interest 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 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 | =CUMIPMT(4%/12,48,30000,1,12,0) | |

Year 2 | =CUMIPMT(4%/12,48,30000,13,24,0) | |

Year 3 | =CUMIPMT(4%/12,48,30000,25,36,0) | |

Year 4 | =CUMIPMT(4%/12,48,30000,37,48,0) |

**Results:**

A | B | |

Year 1 | $-1,071.56 | |

Year 2 | $-784.05 | |

Year 3 | $-484.82 | |

Year 4 | $-173.41 |

- The calculated interest payments are negative values, as they represents outgoing payments (for the individual taking out the loan).

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## References