To calculate the cumulative total of payments made toward the principal of a loan, you use the _____ function.
A) CUMIPMT
B) PRINC
C) CUMPRINC
D) PMT

Name: To calculate the cumulative total of payments made toward the principal of a loan, you use the _____ function. A) CUMIPMT B) PRINC C) CUMPRINC D) PMT
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Question

Quizplus · Accepted Answer

The CUMPRINC function is specifically designed to calculate the cumulative principal payments made on a loan. The other functions listed are not designed for this specific calculation.

To Calculate the Cumulative Total of Payments Made Toward the Principal