Loan Payment Amount Calculator  



Where,
P = Payment Amount
A = Loan Amount
r = Rate of Interest (compounded)
N = Number of Payments
Rate of Interest Compounded is,
If Monthly,
r = i / 1200 and N = n * 12
If Quarterly,
r = i / 400 and N = n * 4
If Half yearly,
r = i / 200 and N = n * 2
If Yearly,
r = i / 100 and N = n
Example:
Calculate the payment amount against loan taken.
Loan Amount (A): 1000000
Rate of Interest (i):5
Number of years (n):7
Rate of Interest Compounded: Monthly
Solution:
Apply Formula:
P = (r * A) / (1  (1+r)^{n})
P = (0.05*1000000)/(1(1+0.05)^{7})
P = 14134.05