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Loan Balance Calculator

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    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

    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.

    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