Dear mates,

Im curious why am i getting different set of results when i use the same set of values:

1) Loan Amount: $927,750
2) Interest: 2% P.A
3) Year of Loan: 30

When i apply CUMIPMT function, =cumipmt(2%/12,30*12,927,750,1,360,1) the results will be $304,688.01

However when i use the same set of values in loan amortization app, it will show $306,740.40

Why is there such a difference?