Cumprinc (Cumulative Principal Paid)

Returns the cumulative principal paid on a loan over a specified period of time.

Syntax

Cumprinc <Type = 0> (Rate, Nper, Pv, Start, End)

Where:

Rate is the interest rate.

Nper is the total number of payment periods.

Pv is the present loan value.

Start is the first period in the calculation. Payment period counting begins at 1.

End is the last period in the calculation.

Type is a parameter that indicates the timing of the payment.

Usage Notes

Consistency is important when specifying Rate and Nper:

• For monthly payments on a four-year loan at an annual interest rate of 12%, Rate = 12%/12; Nper = 4 × 12.
• For annual payments on a four-year loan at an annual interest rate of 12%, Rate = 12%; Nper = 4.

If Nper, Start, End, or Type is not an integer, it is truncated.

The engine returns an empty cell if

• Rate £ 0, Nper £ 0, or Pv £ 0
• Start< 1 or End < 1
• Start > End
• Type ¹ 0

Example

A home mortgage loan has the following terms:

• Interest rate: 9.00 percent per annum (rate = 9.00% ÷ 12 = 0.0075)
• Term: 30 years (nper = 30 × 12 = 360)
• Present value: $125,000

The total principal paid in the second year of payments (periods 13 through 24) is defined as follows:

CUMPRINC(0.0075,360,125000,13,24) equals -934.1071

The principal paid in a single payment in the first month is defined as follows:

CUMPRINC(0.0075,360,125000,1,1) equals -68.27827