Explain the CUMIPMT function and its arguments. Why would it be beneficial to know the cumulative interest paid in a particular time period?
What will be an ideal response?
The CUMIPMT function returns the cumulative interest paid between two periods. The function uses the interest rate, calculated as the interest rate per period, the total number of payments, the present value of the amount borrowed, the starting period, ending period, and type. The starting and ending period arguments use the payment numbers for which you want to calculate the sum of interest paid. The type argument indicates whether or not you are making beginning of the period payments or the end of period payments. Being able to calculate the cumulative interest paid for a particular period can be beneficial if you are deducting the interest paid on a mortgage for your taxes.
You might also like to view...
The difference between remote controls that use infrared light and those that use radio waves is that ________
A) radio waves cannot pass through any objects in their path B) infrared lights are visible to the human eye C) infrared light requires the user to point the remote control directly at the appliance D) radio waves act like a beam of light
When you create media files, they are stored on your hard disk in Favorites.
Answer the following statement true (T) or false (F)
Suppose a loop should execute while x is less than the sum of two integers, a and b. The loop could be written as:while(x < a + b)// loop bodyAlthough this code fragment will run, it is not particularly efficient. In what way is it inefficient, and how could you improve the loop's performance?
What will be an ideal response?
What is a data collector set, and what are the three basic types of data collection tools and formats?
What will be an ideal response?