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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

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**