CUMPRINC Function
Returns the cumulative principal paid on a loan
between the start and end period.
Syntax
Required Arguments
- rate
-
specifies the interest
rate per payment period.
- number-of-periods
-
specifies the number
of payment periods. number-of-periods must be a positive integer value.
- principal-amount
-
specifies the principal
amount of the loan. Zero is assumed if a missing value is specified.
Optional Arguments
- start-period
-
specifies the start
period for the calculation.
- end-period
-
specifies the end period
for the calculation.
- type
-
specifies whether the
payments occur at the beginning or end of a period. 0 represents the
end-of-period payments, and 1 represents the beginning-of-period payments.
0 is assumed if type is omitted
or if a missing value is specified.
Example
-
The cumulative principal that is
paid during the second year of a $125,000, 30-year loan with end-of-period
monthly payments and a nominal annual interest rate of 9%, is computed
as follows:
PrincipalYear2=CUMPRINC(0.09/12, 360, 125000, 12, 24, 0);
This computation returns
a value of 934.107.
-
The principal that is paid on the
second year of the same loan with beginning-of-period payments is
computed as follows:
PrincipalYear2b = CUMPRINC(0.09/12, 360, 125000, 12, 24, 1);
This computation returns
a value of 927.153.