FINANCE CUMIPMT Function
Computes the cumulative interest paid between two periods.
| Category: | Financial |
|---|
Syntax
Arguments
rate
specifies the interest rate.
nper
specifies the total number of payment periods.
pv
specifies the present value or the lump-sum amount that a series of future payments is worth currently.
start-period
specifies the first period in the calculation. Payment periods are numbered beginning with 1.
end-period
specifies the last period in the calculation.
type
specifies the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
If payments are due at the end of the period, then either omit the type argument or set it to 0. If payments are due at the beginning of the period, then set type to 1.
Example: Computing Description: CUMIPMT
The following example computes the cumulative interest that is paid between two periods.
data _null_;
rate=0.09;
nper=30;
pv=125000;
startperiod=13;
endperiod=24;
type=0;
r=finance('cumipmt', rate, nper, pv, startperiod, endperiod, type);
put r=;
run;These statements produce this result:
r=−94054.82033