19.Rows 21-23 contain a summary section for cumulative totals after the first year. In cell B22, insert the CUMIPMT function that calculates the cumulative interest after the first year. Use references to cells A8 and A19 for the period arguments.

B22 X fx E F 12 15 A B D 1 Loan (PV) $ 300,000.00 2 APR 4.50% 3 Monthly Rate 0.38% 4 NPER 360 5 Monthly Payment $1,520.06 6 7 Payment Number Beg Balance Interest Principal 8 1 ($1,125.00) ($395.06) 9 2 ($ 1,123.52) ($396.54) 10 3 ($1,122.03) ($398.02) 11 4 ($1,120.54) ($399.52) 5 ($1,119.04) ($401.02) 13 6 ($1,117.54) ($402.52) 14 7 ($1.116.03) ($404.03) 8 Formula Bar) ($405.54) 16 9 ($1,112.99) ($407.06) 17 10 ($1,111.47) ($408.59) 11 ($1,109.93) ($410.12) 19 12 ($1,108.39) ($411.66) 20 21 Cumulative Totals after Year 1 22 Interest 23 Principal Paid 24 25 What if the goal is $1,400 monthly payment? 26 Monthly Payment $ 1,400.00 27 Monthly Rate Needed 28 APR Needed 29 30 31 18 32 33 34 35 3R Details Map Loan + Ready B22 X fx E F 12 15 A B D 1 Loan (PV) $ 300,000.00 2 APR 4.50% 3 Monthly Rate 0.38% 4 NPER 360 5 Monthly Payment $1,520.06 6 7 Payment Number Beg Balance Interest Principal 8 1 ($1,125.00) ($395.06) 9 2 ($ 1,123.52) ($396.54) 10 3 ($1,122.03) ($398.02) 11 4 ($1,120.54) ($399.52) 5 ($1,119.04) ($401.02) 13 6 ($1,117.54) ($402.52) 14 7 ($1.116.03) ($404.03) 8 Formula Bar) ($405.54) 16 9 ($1,112.99) ($407.06) 17 10 ($1,111.47) ($408.59) 11 ($1,109.93) ($410.12) 19 12 ($1,108.39) ($411.66) 20 21 Cumulative Totals after Year 1 22 Interest 23 Principal Paid 24 25 What if the goal is $1,400 monthly payment? 26 Monthly Payment $ 1,400.00 27 Monthly Rate Needed 28 APR Needed 29 30 31 18 32 33 34 35 3R Details Map Loan + Ready