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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.

Loan Payment Calculator

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Table of Contents:

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    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