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Computing Cumulative Interest and Principal Paid For a Calendar Year

Author

Listed:
  • John O. MASON

    () (Culverhouse School of Accountancy, The University of Alabama, U.S.A.)

Abstract

This paper demonstrates how easy it is use Microsoft Excel’s CUMPRINC and CUMIPMT functions to compute principal and interest paid for an entire year, even though the payments were made monthly. The CUMPRINC function computes the principal paid by a series of loan payments; the CUMIPMT function computes the interest paid. These two functions provide an alternative to preparing a monthly loan amortization schedule and adding up the amounts of monthly interest paid and principal paid for the year.

Suggested Citation

  • John O. MASON, 2011. "Computing Cumulative Interest and Principal Paid For a Calendar Year," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(5), pages 1-2, August.
  • Handle: RePEc:spp:jkmeit:1158
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    Cited by:

    1. Alexandru Jivan, 2013. "Relative Value and Principles of Servicity," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(4), pages 1-7, August.

    More about this item

    Keywords

    CUMPRINC; CUMIPMT; Microsoft Excel; principal paid; interest paid; Rate; Nper; PV; Start_period; End_period; Type;

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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