Loan Outstanding Balance Calculator

Formula Used

The outstanding loan balance is calculated using:

Outstanding Balance = P × (1 + r)^k - [EMI × ((1 + r)^k - 1) / r] - Prepayment × (1 + r)^{(k - m)}

Where:

• P = Loan Amount
• r = Monthly Interest Rate (Annual Rate / 12)
• n = Total Loan Term (in months)
• k = Period Passed (in months)
• m = Month when prepayment was made
• EMI = Monthly Payment