LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1   Report Post  
New Soul
 
Posts: n/a
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.
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Calculate total interest earned on a loan and monthly payment Matt Stanley Excel Worksheet Functions 4 May 4th 23 03:42 AM
Loan Schedule with Balloon Payment R0bert Neville Excel Worksheet Functions 7 April 22nd 23 12:08 PM
Interest only payment origin8r Excel Worksheet Functions 3 July 14th 05 03:53 AM
Trying to Manipulate a Mortgage Payment (HELP!) DC Excel Worksheet Functions 1 February 4th 05 05:49 PM
Calculating interest on number of days in the period Ron Excel Worksheet Functions 0 January 18th 05 12:59 AM


All times are GMT +1. The time now is 02:11 PM.

Powered by vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 ExcelBanter.
The comments are property of their posters.
 

About Us

"It's about Microsoft Excel"