Balance of a loan with regular monthly payments(given period payments and period rate)

Formula

Balance of a loan with regular monthly payments(given period payments and period rate) formula
Bk
balance after k payments
Bk1
balance after k+1 payments
r
period rate for monthly payments
p
period (monthly) payment

Formula description

The balance of a loan with regular monthly payments is augmented by the monthly interest charge and decreased by the payment.

Calculator (how to use calculator?)

Balance of a loan with regular monthly payments(given period payments and period rate) formula
Bk1
r
p
Bk
Precision

Formula code








References

  1. Wikepedia:Formulae.

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