Balance of a loan with partial sum of a geometric series

Formula

Balance of a loan with partial sum of a geometric series formula
Bk
balance after k payments
B0
initial balance (loan principal)
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?)

Balance of a loan with partial sum of a geometric series formula
B0
r
p
k
Bk
Precision

Formula code

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References

  1. Wikepedia:Formulae.

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