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Loan
Loan is a borrowed amount of money that is repaid at regular intervals, where interest is compounded at the payment frequency. Loan formula can be used to calculate the loan payment, the loan balance, the interest rate, and the total number of payments. Use the loan calculator below to solve the formula.
Loan Definition
Loan is a repayment of principal while interest is being applied to the outstanding balance. Each payment is blended, consisting of both interest and principal.
Variables
Pmt=Payment Amount
B=Balance outstanding
K=Period interest rate
N=Total number of payments
