#NUM! error on CUMIPMT function

[Sarah RK]

Hello

I am having trouble with a negative number on the CUMIPMT
function. Here is the formula:
=CUMIPMT(-0.37%/12,360,196022,1,6,0)

On all other calculations (with positive interest rates) I
don't have a problem.

If I calculate each payment individually 6 times (using
IPMT with the scenario above, and 1,2,3,4,5, & 6 for
the "per" values) I don't have a problem. Any suggestions
on why CUMIPMT is causing me troubles?

Thanks for your assistance,
Sarah

 

[Kevin Stecyk]

Sarah,

You need to have a positive interest rate. If you don't like the "negative
answer", then simply put a negative sign in front of the function.....

=CUMIPMT(0.37%/12,360,196022,1,6,0) .... yields -360.26

OR

(note the neg sign in front of function)


=-CUMIPMT(0.37%/12,360,196022,1,6,0) .... yields 360.26

They bank doesn't pay you (that is, a negative interest rate) to borrow from
them ('tho it would be nice if they did).

HTH.

Regards,
Kevin

 

[Guest]

Ah! Thanks
(I work for a bank, so I need the negative sign in there
somewhere!)

Cheers
Sarah

 

[Kevin Stecyk]

Sarah,

You are most welcome. I appreciate the thanks.

Regards,
Kevin