I found the function "IPMT()" explained on a website very well. Here is my question. This function determines how much money you will be paying on a loan during a given month of your loan. i.e. during the 7th month of a 48 month loan.

I would like to know how much money I will be paying overall during my loan. Before you say the obvious answer and reply "just multiply your loan by the interest rate..." realize that as you pay off your loan you owe less money to the financial institution and therefor the interest rate is multipltying itself by a lower amount of money. So if halfway through my loan I have paid off $5,000 of a $10,000 loan, I am now only accruing interest on $5,000 as opposed to $10,000.

Anyone know a function, or solution, that would apply to this?

Thanks in advance for any help