Cumulated interest paid

  • Thread starter Thread starter melafont
  • Start date Start date
M

melafont

I was wanting a formula to return the cumulative interest paid betwee
two periods on a loan which has a residual value. Similar to CUMIPM
but it does not factor in a residual value
 
a1=(FV at p1 - FV at p2) is the amount that the principal decreased between
start-period (p1) and end-period (p2).
a2=PMT * (p2 - p1) is the total payments made in that period.

=a2-a1 is the total interest charged over that period.
 

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