How To Calculate Total Interest Paid In Excel
Calculate cumulative loan interest
Generic formula
= CUMIPMT (charge per unit,nper,pv,commencement,end,type)
Summary
To summate the cumulative principal paid between any 2 loan payments, you lot tin use the CUMIPMT function. In the example shown, we summate the total master paid over the full term of the loan by using the first and terminal period. The formula in C10 is:
Explanation
For this example, we want to summate cumulative involvement over the full term of a five-yr loan of $5,000 with an involvement rate of 4.5%. To do this, nosotros set up up CUMIPMT similar this:
rate - The involvement rate per period. We divide the value in C6 by 12 since 4.5% represents annual interest:
nper - the total number of payment periods for the loan, 60, from cell C8.
pv - The present value, or total value of all payments now, 5000, from cell C5.
start_period - the offset period of interest, 1 in this case, since we are calculating chief across the entire loan term.
end_period - the last period of involvement, lx in this case for the full loan term.
With these inputs, the CUMIPMT office returns -592.91, the full involvement paid for the loan.
Related formulas
For this example, nosotros want to calculate the involvement portion for payment 1 of a v-yr loan of $5,000 with an interest rate of 4.5%. To do this, we fix PPMT similar this: rate - The interest rate per flow. We divide the value in C6 by 12 since 4.v...
For this example, we want to summate the primary portion for payment 1 of a 5-year loan of $5,000 with an involvement rate of 4.v%. To do this, nosotros ready up PPMT like this: rate - The interest rate per period. We divide the value in C6 by 12 since 4.5...
Loans have 4 main components: the amount, the interest charge per unit, the number of periodic payments (the loan term) and a payment amount per menstruation. One apply of the Charge per unit office is to calculate the periodic interest rate when the amount, number of...
Loans have four primary components: the amount, the interest rate, the number of periodic payments (the loan term) and a payment corporeality per period. One use of the PV function is to summate the the original loan amount, when given the other three...
Loans accept four main components: the amount, the interest rate, the number of periodic payments (the loan term) and a payment corporeality per period. You can utilize the PMT role to get the payment when yous have the other three components. For this...
Loans take 4 primary components: the amount, the interest rate, the number of periodic payments (the loan term) and a payment amount per menstruum. One use of the NPER function is to calculate the number of periodic payments for loan. For this...
For this example, we want to calculate cumulative principal payments over the full term of a five-year loan of $5,000 with an interest charge per unit of iv.v%. To practise this, nosotros set up CUMPRINC like this: rate - The involvement rate per period. We separate the value in...
Related functions
The Excel CUMIPMT office is a financial function that returns the cumulative involvement paid on a loan between a starting time period and an end period. You can use CUMIPMT to summate and verify the total interest paid on a loan, or the interest paid...
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Source: https://exceljet.net/formula/calculate-cumulative-loan-interest
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