Working with a single cumulative function
In this exercise, you will add the cumulative interest and principal at a point in time on a schedule.
This loan is paid monthly, and is currently set to fully amortize in 20 years.
However, you need to know what the balance is at the end of the 5th year (period 60), as it is only a 5 year loan.
While you can add the values in the interest and principal column, you will be required to use the CUMPRINC() and CUMIPMT() formulas.
Remember to put a negative in front of the calculations, and that the end or beginning argument is required!
이 연습은 강의의 일부입니다
Google Sheets로 하는 대출 상환 일정표
연습 안내
- Use the
CUMIPMT()function to calculate cumulative interest paid from periods 1 through 60 in cellB10. - Use the
CUMPRINC()function to calculate cumulative principal paid from periods 1 through 60 in cellB11. - Use the number of periods in cell
B7to refer to the total number of periods. Enter the numbers 1 and 60 for the period range. - Use absolute ($) referencing for all arguments.
