Syntax:

=CUMIPMT( rate, nper, pv, start_period, end_period, type )

Parameter:

• The following are the arguments:

rate:

• The interest rate is calculated on a per-period basis.

nper:

• The number of repayment intervals for a loan or investment.

pv:

• The loan/present investment’s value.

start_period:

• The length of first term during which payment will be computed (must be an integer between 1 and nper).

end_period

• The number of the most recent period for which interest is to be computed (must be an integer between 1 and nper).

type

• An number (equal to 0 or 1) indicating whether the payment is paid at the beginning or end of the period:

           0 indicates that the payment is made at the end of the term;

          1 indicates that the payment is made at the beginning of the period.