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

Formula

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

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

Formula code

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References

  1. Wikepedia:Formulae.

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