CUMIPMT FunctionWayne Becker20150902T06:38:18+00:00
The CUMIPMT function calculates the cumulative interest paid on a loan or investment, between two specified periods.
Syntax
=CUMIPMT(rate,nper,pv,start_period,end_period,type)
Arguments
Argument 
Description 
rate 
The interest rate – per period 
nper 
The total number of payment periods 
pv 
The present value of the loan / investment 
start_period 
The first period in the calculation. Payment periods are numbered beginning with 1 
end_period 
The last period in the calculation 
type 
The timing of the payment. The value 0 or 1 has the following meaning:

0 
– 
the payment is made at the end of the period 

1 
– 
the payment is made at the beginning of the period 

Examples

A 
B 
C 
D 
1 
Data 



2 
9% 
Annual interest rate 


3 
30 
Loan term – years 


4 
125,000 
Present value 


5 




6 
Formula 
Result 
Notes 
7 
=CUMIPMT(A2/12,A3*12,A4,13,24,0) 
$11,135.23 
Interest paid in the second year of payments, periods 13 through 24 
8 
=CUMIPMT(A2/12,A3*12,A4,1,1,0) 
$937.50 
Interest paid in the first month payment 
Note: In the example:
 the annual interest rate of 9% had to be converted into a monthly rate (=9%/12), and
 the number of years had to be converted into months (=30*12)
Cash Flow Convention: In line with general cash flow conventions, outgoing payments are represented by negative numbers and incoming payments are represented by positive numbers.
Common Function Error(s)
Problem 
What went wrong 
#VALUE! 
Occurs if any of the supplied arguments are not recognized as numeric values 
#NUM! 
Occurs if:

• 
the start_period or end_period is ≤ 0 or > nper 

• 
the start_period > end_period 

• 
either of the supplied rate, nper or pv arguments are ≤ 0 

• 
the type argument is not equal to 0 or 1 

Result is much higher or much lower than expected 
Usually occurs due to failure to convert the rate or the nper to months or quarters. Ensure the rate and nper arguments are expressed in the correct units, i.e.:

months 
= 
12 * years; 

monthly rate 
= 
annual rate/12 

quarters 
= 
4 * years; 

quarterly rate 
= 
annual rate/4 
