Loan Balance Amount Calculator  

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
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