CUMPRINC
Returns the cumulative principal paid on a loan between start_period and end_period.
If this function is not available, run the Setup program to install the Analysis ToolPak. After you install the Analysis ToolPak, you must enable it by using the Add-Ins command on the Tools menu.
Syntax
CUMPRINC(rate,nper,pv,start_period,end_period,type)
Rate is the interest rate.
Nper is the total number of payment periods.
Pv is the present value.
Start_period is the first period in the calculation. Payment periods are numbered beginning with 1.
End_period is the last period in the calculation.
Type is the timing of the payment.
Type |
Timing |
0 (zero) |
Payment at the end of the period |
1 |
Payment at the beginning of the period |
Remarks
- Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 12% for rate and 4 for nper.
- Nper, start_period, end_period, and type are truncated to integers.
- If any argument is nonnumeric, CUMPRINC returns the #VALUE! error value.
- If rate £ 0, nper £ 0, or pv £ 0, CUMPRINC returns the #NUM! error value.
- If start_period < 1, end_period < 1, or start_period > end_period, CUMPRINC returns the #NUM! error value.
- If type is any number other than 0 or 1, CUMPRINC returns the #NUM! error value.
Example
A home mortgage loan has the following terms:
Interest rate, 9.00 percent per annum (rate = 9.00% ¸ 12 = 0.0075)
Term, 30 years (nper = 30 ´ 12 = 360)
Present value, $125,000
The total principal paid in the second year of payments (periods 13 through 24) is:
CUMPRINC(0.0075,360,125000,13,24,0)
equals -934.1071
The principal paid in a single payment in the first month is:
CUMPRINC(0.0075,360,125000,1,1,0)
equals -68.27827