CUMIPMT
Updated: 5 August 2010
Use CUMIPMT to calculate the cumulative interest paid on a loan between any two periods.
Syntax
SELECT [westclintech].[wct].[CUMIPMT] (
<@Rate, float,>
,<@Nper, float,>
,<@PV, float,>
,<@Start_period, int,>
,<@End_period, int,>
,<@Pay_type, int,>)
Arguments
@Rate
the interest rate per period. @Rate is an expression of type float or of a type that can be implicitly converted to float.
@Nper
the period in the annuity for which the principal payment is being calculated. @Nper is an expression of type float or of a type that can be implicitly converted to float.
@PV
the present value of the future payments . @PV is an expression of type float or of a type that can be implicitly converted to float.
@Start_period
the first period in the calculation. Payment periods are numbered beginning with 1. @Start_period is an expression of type int or of a type that can be implicitly converted to int.
@End_period
the last period in the calculation. Payment periods are numbered beginning with 1. @End_period is an expression of type int or of a type that can be implicitly converted to int.
@Pay_type
the number 0 or 1 and indicates when payments are due. @Pay_type is an expression of type int or of a type that can be implicitly converted to int. If @Pay_type is NULL it is assumed to be 0.
|
Set @Pay_type equal to
|
If payments are due
|
|
0
|
At the end of a period
|
|
1
|
At the beginning of a period
|
Return Type
float
Remarks
· If @Rate <= 0, @Nper <=0, or @PV <=0, CUMIPMT returns an error
· If @Start_period < 1, @End_period <1, or @Start_period > @End_period, CUMIPMT returns an error
· If @Pay_type is any number other than 0 or 1, CUMIPMT return an error
Example
SELECT wct.CUMIPMT(0.0075
,360
,-125000
,349
,360
,0)
Here is the result set
----------------------
568.35255468914