Tag Archive | "PV"

Computing Cumulative Interest and Principal Paid for a Calendar Year

This paper demonstrates how easy it is use Microsoft Excelā€™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.

  Computing Cumulative Interest and Principal Paid for a Calendar Year (728.0 KiB, 3,739 hits)

Posted in Economics, Information Technology, Issue no. 5