Adding cumulative functions to the schedule
In this example, instead of adding the CUMIPMT() and CUMPRINC() functions to calculate for a point in time, it will be added into the whole schedule!
To reduce the amount of cutting and pasting, the loan is now a 2 year amortizing loan instead of a 20 year amortizing loan.
Remember that in your cumulative functions, the first period will always be 1, and the only number that should change is the period.
This exercise is part of the course
Loan Amortization in Google Sheets
Exercise instructions
- Use the
CUMIPMT()function to calculate cumulative interest paid in all periods from period 1 through 24 in cellsL4:L27. - Use the
CUMPRINC()function to calculate cumulative principal paid in all periods from period 1 through 24 in cellsM4:M27. - Use the periods in
B7when referring to the total number of periods. - The values in columns L and M should be positive numbers.
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