cumipmt

[Toni]

I'm trying to use the CUMIPMT function, but keep getting an error #NAME%,
what am I doing wrong. I've pasted it exactly from the previous tread, do I
need to download the function into excel?

 

[Max]

Think CUMIPMT requires the Analysis ToolPak (ATP) to be installed and
enabled. The advisory below was pasted from Excel's Help for CUMIPMT :

".. If this function is not available, run the Setup program to install the
Analysis ToolPak. After you install the Analysis ToolPak, you must enable it
by using the Add-Ins command on the Tools menu."

Chip Pearson's page has details on the ATP at:
http://www.cpearson.com/excel/ATP.htm

 

[Toni]

Thanks Max, I'm trying to load the ATP, but it seems stuck? Do I need the
software or should it already be loaded on my PC?

 

[Max]

According to the details in Chip's link, it should be in:
" .. typically C:\Program Files\Microsoft Office\Office\Library"

 

[Toni]

Thank you, thank you, thank you!! I did it, and the calculation now works.
I've been working on this for days. So glad I found this web site. You are
awesome!!

 

[Toni]

Does the cumipmt calculation, account for the change in the interst amt paid
with each payment, or does it assume the same interst amt is paid throughout
the life of the loan?

 

[Max]

Glad to hear you got it working !

 

[Max]

Afraid I'm out of comments as to your new Q below <g>..
Hang around awhile here for possible insights from others,
or put in a new post ..

 

[Fred Smith]

CUMIPMT takes into account that the interest portion changes with each
payment. You can verify this by asking for periods 1 to 1, 2 to 2, etc.