How much interested have I paid? The CUMIPMT Function in Excel is a financial function designed to calculate and return the cumulative interest paid on a loan. This can be extremely useful when trying to quickly calculate your total interest for a mortgage or auto loan.

Let’s take a look at the Syntax

=CUMIPMT (rate, nper, pv, start_period, end_period, type)

rate | The interest rate per period. |

nper | The total number of payments for the loan. |

pv | Present value |

start_period | First payment |

end_period | Last payment |

type | When payments are due. 0 = end of period. 1 = beginning of period. |

Let’s take a look at the following 15yr mortgage calculation.

*Please note, when calculating the rate, you have to take the rate 3.75% divided by the Periods per year, 12.

The Total Interest is calculated as a negative number.