Documentation/Calc Functions/CUMIPMT ADD
Calculates the accumulated interest for a period.
CUMIPMT_ADD(Rate; NPer; PV; StartPeriod; EndPeriod; Type)
Rate is the interest rate for each period.
NPer is the total number of payment periods. The rate and Nper must refer to the same unit, and thus both be calculated annually or monthly.
PV is the current value.
StartPeriod is the first payment period for the calculation.
EndPeriod is the last payment period for the calculation.
Type is the maturity of a payment at the end of each period (Type = 0) or at the start of the period (Type = 1).
The functions whose names end with _ADD or _EXCEL2003 return the same results as the corresponding Microsoft Excel 2003 functions without the suffix. Use the functions without suffix to get results based on international standards.
The following mortgage loan is taken out on a house:
Rate: 9.00 per cent per annum (9% / 12 = 0.0075), Duration: 30 years (NPER = 30 * 12 = 360), Pv: 125000 currency units.
How much interest must you pay in the second year of the mortgage (thus from periods 13 to 24)?
=CUMIPMT_ADD(0.0075;360;125000;13;24;0) returns -11135.23.
How much interest must you pay in the first month?
=CUMIPMT_ADD(0.0075;360;125000;1;1;0) returns -937.50.