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Using Excel's CUMIPMT Function To Determine Interest Paid Over Multiple Loan Payments

K2 Enterprises
5.08K subscribers
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17K views 11 years ago
On occasion, you might have the need to determine how much interest is paid on a loan over multiple payments. For example, perhaps you are preparing a tax return and need to know how much interest you paid during the course of the year. There are multiple approaches to solving this problem, including building an amortization schedule in Excel. However, the fastest method may be to use Excel's CUMIPMT function and in this tip, you will learn how to take advantage of this little-known feature. ...more
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Using Excel's CUMIPMT Function To Determine Interest Paid Over Multiple Loan Payments
13Likes
17,131Views
2013Oct 28
On occasion, you might have the need to determine how much interest is paid on a loan over multiple payments. For example, perhaps you are preparing a tax return and need to know how much interest you paid during the course of the year. There are multiple approaches to solving this problem, including building an amortization schedule in Excel. However, the fastest method may be to use Excel's CUMIPMT function and in this tip, you will learn how to take advantage of this little-known feature.

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K2 Enterprises

5.08K subscribers