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# Loan Payment Calculator

Loan Payments are installments paid by the consumer to the lender, usually on a monthly basis, for a specific agreed-upon time. Calculate the breakup of the EMI that you will pay on the loan taken between principal payment and interest payment.

Table of Contents:

## Formula

N = [ - log ( 1 - [ ( r*A ) / P ] ) ] / ( log (1+r) )

Amount of periodic payments to satisfy mortgage loans, car loans and other loans is known as loan payment.

**Example:**

Calculate the number of payments for loan taken.

**Details:**

Loan Amount (A): 100000

Payment Amount (P): 5000

Rate of Interest (i): 5

Rate of Interest Compounded: Monthly

**Solutions:**

**Apply formula:**

N = [ - log ( 1 - [ ( r*A ) / P ] ) ] / ( log (1+r) )

N = **20.93**

**Therefore the number of loan payments is 21.**

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