Initial balance(given balance after k payments,balance index,period payment and period rate)

Formula

Initial balance(given balance after k payments,balance index,period payment and period rate) formula
B0
initial balance (loan principal)
Bk
balance after k payments
r
period rate for monthly payments
p
period (monthly) payment
k
balance index

Formula description

The balance of a loan by repeated substitution.

Calculator (how to use calculator?)

Initial balance(given balance after k payments,balance index,period payment and period rate) formula
Bk
r
p
k
B0
Precision

Formula code

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References

  1. Wikepedia:Formulae.

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