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New Soul
 
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Default Why are cumulative interest payment calculations different?

I get very different answers when using
CUMIPMT(rate,nper,pv,start_period,end_period,type) and an equation I've seen
others use to calculate cumulative interest paid (=(annual rate*present
value)/12) * number of months held).

Can someone explain why these equations produce different results? I need
to ensure I'm using the correct calculation.