monthly ppmt calculated in 1 cell for year

[name]

I'm trying to calculate *annual* principal portion of a *monthly* loa
payments using only one cell. For example, the cell for year one woul
be the sum of ppmt(monthly_interest_rate,i,60,loan_amount) where i i
1-12.

Any thoughts on how this can be done? Is there some sort of loo
function in excel

 

[SteveG]

Try the cumulative principle function.

=CUMPRINC(6%/12,60,10000,1,12,1)


This is a $10000 loan with a 6% interest paid monthly for 60 months.
and 12 represent the first period and the last one in the formula mean
that the payments are made at the beginning of the periods. I
payments are made at the end of the period use 0.

HTH

Stev

 

[name]

Perfect, thanks