# 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