Loan Balance Calculator
Amortization is the process of paying off a loan over time with regular, fixed payments. In the early years of a loan, a larger portion of your payment goes toward interest. As you continue to make payments, more of each payment goes toward reducing the principal balance.
The remaining balance (B) after a certain number of payments (p) is calculated as:
$$ B = P \frac{(1+r)^n - (1+r)^p}{(1+r)^n - 1} $$
Where:
P = Principal loan amount
r = Monthly interest rate
n = Total number of payments for the loan
p = Number of payments already made
This calculator provides an estimate and is not financial advice. It does not account for taxes, insurance, or extra payments. Always consult your official loan statements for exact figures.
See your remaining balance after a set number of payments.