From The Document Foundation Wiki
- (1) Summary. Suggested alternative – “Returns the total interest paid in specified payment periods for a loan with a constant interest rate.”.
- (2) Returns. Insert space before open bracket. Change “payment” to “paid”. Change “with given” to “for the given”. Insert “the” before “negative”. Change “debt” to “payment”. We ought to state that the value returned is in the same currency units as the present value (PV). Also, worth saying that CUMIPMT formats the result as a currency if the cell has default formatting.
- (3) Arguments, Rate. Suggest changing “periodic interest rate” to “interest rate for each period”. Mention that this can be entered as a percentage.
- (4) Arguments, NPer. This parameter is intended to be an integer; if a real number is entered then it should be truncated. Delete “payment period with the”. Add “over which the loan will be repaid” at the end of the first sentence. Probably delete 2nd sentence.
- (5) Arguments, PV. Change “current value in the sequence of payments” to “present value of the loan”.
- (6) Arguments, S. This parameter is intended to be an integer; if a real number is entered then it should be truncated.
- (7) Arguments, E. This parameter is intended to be an integer; if a real number is entered then it should be truncated.
- (8) Arguments, Type. Change “is” to “indicates whether”. Insert “is” before “at”. Change “Maturity” to “Due” in column heading.
- (9) Arguments, 1st bullet. Delete spurious full stop after PV.
- (10) Arguments, 2nd bullet. This applies to NPer too.
- (11) Arguments, 3rd bullet. Insert space before open bracket (two occurrences).
- (12) Arguments, 4th bullet. Insert space before open bracket.
- (13) Arguments, 5th bullet. Change “any thing accept” to “anything other than”
- (14) Additional details. The following text from the Open Office page is useful and can be included – “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 in the payment of a specified period. PPMT returns the capital repaid in the payment of that period. Together they add up to the actual payment, given by PMT. CUMIPMT returns the total interest in payments during the periods start to end inclusive - that is, the sum of IPMT over that time.”.
- (15) Examples, 1st and 2nd examples. Suggest delete “a payment period of”. Change “current cash” to “present”. Delete “period” after “6th”.