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interest on loan a/c compounding yearly, but i want it for 3,7.. months

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    interest on loan a/c compounding yearly, but i want it for 3,7.. months

    I have created excel sheet as below


    Interest Compounding Yearly


    Principal 50000.00

    Interest Rate 7.25% Per annum

    Term 3 Months




    Month Opening Balance Interest Charged Repayment Closing Balance
    1 50000.00 0.00 16868.46 33131.54
    2 33131.54 0.00 16868.46 16263.08
    3 16263.08


    here i want the total interest charged for three months in 3rd mnth interest charged column, if i select 7 mnths term total interest charged for 7 months should come in 7th month interest charged colum, if it is 13 months total interest for 12 months in 12th month interest column and remaining 1 month interest in 13th month interest charged column

    kindly help
    Last edited by GANESH SRINATH; 01-26-2014 at 08:49 AM.

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    Re: interest on loan a/c compounding yearly, but i want it for 3,7.. months

    IPMT gives you the interest for a particular period.
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    Re: interest on loan a/c compounding yearly, but i want it for 3,7.. months

    yes IPMT calculates interest for a particular month, but as I have choosen 3 months term I want the total interest charged for 3 months in iii months interest charged column

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    Re: interest on loan a/c compounding yearly, but i want it for 3,7.. months

    Do you mean CUMIPMT?

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    Re: interest on loan a/c compounding yearly, but i want it for 3,7.. months

    not cumipmt , from cumipmt we will get compound interest, but I want simple interest and say if have selected term period as 4 months total simple interest for 4 months in column say interest column( that means if we calculate interest for individual month for 4 months and total it)

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    Re: interest on loan a/c compounding yearly, but i want it for 3,7.. months

    I don't know how to respond. Your first example is using numbers with compounding, for which CUMIPMT should work. But your latest note states simple interest, for which the cumulative interest is basic math. Which one is it?

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