P
Paul
Hi,
I want to use CUMPRINC and CUMIPMT in an amortization for a loan that
includes a balloon payment. CUMPRINC handles this perfectly when I
subtract the balloon amount (fv) from the principal (pv), like so:
CUMPRINC(rate, nper, pv-fv, start_period, end_period, type)
However, when I try the same thing with CUMIPMT it generates incorrect
values. That is, when compared with a running total of values
generated by IPMT, the CUMIPMT values are always less.
For example, the following returns -100:
=IPMT(0.1,1,10,1000,-100,0)
However, the following returns -90:
=CUMIPMT(0.1,10,900,1,1,0)
Any ideas?
Paul
I want to use CUMPRINC and CUMIPMT in an amortization for a loan that
includes a balloon payment. CUMPRINC handles this perfectly when I
subtract the balloon amount (fv) from the principal (pv), like so:
CUMPRINC(rate, nper, pv-fv, start_period, end_period, type)
However, when I try the same thing with CUMIPMT it generates incorrect
values. That is, when compared with a running total of values
generated by IPMT, the CUMIPMT values are always less.
For example, the following returns -100:
=IPMT(0.1,1,10,1000,-100,0)
However, the following returns -90:
=CUMIPMT(0.1,10,900,1,1,0)
Any ideas?
Paul