Calculates the cumulative interest payments for an investment based on a constant interest rate.
CUMIPMT(rate, total_periods, present_value, first_period, last_period, type)
- rate - The annualized rate of interest.
- total_periods - The total number of payment periods.
- present_value - The present value of the annuity.
- first_period - The first period in the calculation.
- last_period - The last period in the calculation.
- type - [OPTIONAL] The due date type for the payment – at the beginning (0) or end of each period (1).
CUMIPMT(A2,A3,A4,1,1,0) returns the interest paid in a single payment in the first month.
- Ensure that consistent units are used for rate and total_periods.
- Divide the rate by 12 to get a monthly rate.