Loan Balance Calculator

Loan balance is the net amount that is left along with the interest on loan after paying a certain sum of money to the lender. Loan balance can be calculated through the online loan balance calculator.
Loan Balance Amount Calculator
Loan Amount (A):
Payment Amount (P):
Annual Rate of Interest (i): %
Number of time periods (n):
Rate of Interest Compounded (r):
Balance Amount (B):
Formula
B = (A * (1+r)n) - [ (P/r) * ((1+r)n- 1 ) ]

Where,
B = Balance Amount
A = Loan Amount
P = Payment Amount
r = Rate of Interest (compounded)
n = Number of time periods

Rate of Interest compounded is,
If Monthly,
r = i / 1200

If Quarterly,
r = i / 400

If Half yearly,
r = i / 200

If Yearly,
r = i / 100

The amount remaining to be paid toward an obligation of loan is known as loan balance. It is also known as the balance of loan or depositary account

Example:
Calculate the loan balance for the given details:
Loan Amount (A): 1000000
Payment Amount (P): 10000
Rate of Interest (i): 5
Number of time periods (n): 60
Rate of Interest Compounded: Monthly

Solution:
Apply formula:
B = (A * (1+r)n) - [ (P/r) * ((1+r)n - 1 ) ]
B = (1000000*(1+0.05)60-[(1000/0.05)*((1+0.05)60-1)]
B = 603316.47

Therefore the loan balance is 603316.47