Period rate(given balance of the loan and period payments)

Formula

Period rate(given balance of the loan and period payments) formula
r
period rate for monthly payments
Bk1
balance after k+1 payments
Bk
balance after k 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?)

Period rate(given balance of the loan and period payments) formula
Bk1
Bk
p
r
Precision

Formula code








References

  1. Wikepedia:Formulae.

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