Loan Balance Calculator
Calculate your remaining loan balance and track payment progress
Calculate Remaining Loan Balance
The original amount you borrowed
Annual percentage rate (APR)
Total duration of the loan
How long you've been paying the loan
Loan Balance Summary
Payment Information
Interest Breakdown
Example Calculation
Car Loan Example
Original loan amount: $10,000
Interest rate: 5% annually
Loan term: 5 years (60 months)
Time passed: 2 years (24 months)
Results
Monthly payment: $188.71
Remaining balance: $6,297.48
Principal paid: $3,702.52
Interest paid so far: $826.52
Remaining payments: 36 months
Loan Management Tips
Extra Payments
Make extra principal payments to reduce total interest
Track Progress
Monitor your balance regularly to stay motivated
Refinancing
Consider refinancing if rates drop significantly
Formula Reference
Remaining Balance Formula
Balance = FV - Payment Sum
Where FV is future value of loan and Payment Sum is total payments made
Understanding Loan Balance Calculations
What is Loan Balance?
Loan balance is the amount you still owe on your loan at any given time. It's the original loan amount minus the principal payments you've made, plus any accrued interest that hasn't been paid.
Why Track Your Balance?
- •Plan for payoff strategies
- •Understand equity in secured loans
- •Calculate savings from extra payments
- •Monitor loan paydown progress
Calculation Method
Standard Amortization Formula:
Balance = Loan × (1+r)^k - Payment × ((1+r)^k - 1) / r
- Loan: Original loan amount
- r: Monthly interest rate (annual rate ÷ 12)
- k: Number of payments made
- Payment: Monthly payment amount
Note: This calculator uses the standard amortization method where payments are applied first to interest, then to principal.