### Example: Cumulative Interest Example

The amount of interest paid in the first year of a 30 year fixed rate mortgage is computed. The amount financed is $200,000 at an interest rate of 7.25% for 30 years.
import com.imsl.finance.*;
import java.text.NumberFormat;
public class cumipmtEx1 {
public static void main(String args[]) {
double rate = 0.0725 / 12;
int periods = 12 * 30;
double pv = 200000;
int start = 1;
int end = 12;
double total;
total = Finance.cumipmt(rate, periods, pv, start, end,
Finance.AT_END_OF_PERIOD);
System.out.println("First year interest = "
+ NumberFormat.getCurrencyInstance().format(total));
}
}

#### Output

First year interest = ($14,436.52)

Link to Java source.