Loan Balance Calculator
Loan Balance
The loan balance calculator allows you to calculate the balance of your loan. If you want to quickly check how much you still need to repay, you have found the right tool. Our universal loan balance calculator can be used as a personal loan balance calculator, car loan balance calculator, or mortgage loan balance calculator. All you have to do to calculate your loan balance is fill in the appropriate fields below.
How to use the loan balance calculator?
First of all, enter the initial terms of the loan:
- loan amount,
- the interest rate on the loan on an annualized basis,
- loan term,
- the time elapsed since the loan was taken.
It's all! By clicking the 'Calculate' button, on the right you will see the loan balance, monthly payment, and the total loan amount.
Loan balance formula
To calculate the loan balance, apply the following formula:LB = A(1+i)^p-A \dfrac{(1+i)^n - 1}{i}
- LB - loan balance
- A - loan amount
- i - interest rate expressed monthly
- p - a period that passed since the loan was taken
- n - term of the loan, that is, the period for which the loan was granted
- Mortgage, Loan, Debt management
- Investment
