Excel Formula: How to use the Excel CUMIPMT function - Excelchat
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In cell B10, enter a formula using the CUMIPMT function to calculate the cumulative interest paid on the loan for Year 1 (payment 1 in cell B7 through payment 4 in cell B8). Use 0 as the type argument. Fill the range C10:F10 with the formula in cell B10 to calculate the interest paid in Years 2-5 and the total interest.
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