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# All Loan-calculators Formulas List

## Interest Rate - David Cantrell Method

#### Formula Used:

i ≈ [ ( 1 + ( P/A ) ) 1/q - 1 ] q - 1
 Where, q = log[ 1 + (1/N) ] / log2 N = n * 12 P = Payment Amount A = Initial Amount N = Number of Payments

## Loan Amount

#### Formula Used:

A = ( P / r ) * [ 1 - (1+r)-N ]

Where,
A = Loan Amount
P = Payment Amount
r = Rate of Interest (compounded)
N = Number of Payments
Rate of Interest Compounded is,
If Monthly,
r = i / 1200 and N = n * 12
If Quarterly,
r = i / 400 and N = n * 4
If Half yearly,
r = i / 200 and N = n * 2
If Yearly,
r = i / 100 and N = n

## Loan Balance

#### Formula Used:

B = ( A * (1+r)n) - [ (P/r) * ((1+r)n - 1 ) ]

Where,
B = Balance Amount
A = Loan Amount
P = Payment Amount
r = Rate of Interest (compounded)
n = Number of time periods
Rate of Interest compounded is,
If Monthly,
r = i / 1200
If Quarterly,
r = i / 400
If Half yearly,
r = i / 200
If Yearly,
r = i / 100

## Number of Payments Left on a Loan

#### Number of Payments on a Loan Formula.

N = [ - log ( 1 - [ ( r*A ) / P ] ) ] / ( log (1+r) )

Where,
P = Payment Amount
A = Loan Amount
r = Rate of Interest (compounded)
N = Number of Payments
Rate of Interest Compounded is,
If Monthly,
r = i / 1200
If Quarterly,
r = i / 400
If Half yearly,
r = i / 200
If Yearly,
r = i / 100

## Biweekly Mortgage Loan Payment

#### Formula Used:

Monthly payment = (r * p) / 1-(1 + r)2
where,
r - interest rate,
p - principal loan amount

## Loan Payment Amount

#### Loan Payment Amount Formula.

P = ( r * A ) / ( 1 - (1+r)-N)

Where,
P = Payment Amount
A = Loan Amount
r = Rate of Interest (compounded)
N = Number of Payments
Rate of Interest Compounded is,
If Monthly,
r = i / 1200 and N = n * 12
If Quarterly,
r = i / 400 and N = n * 4
If Half yearly,
r = i / 200 and N = n * 2
If Yearly,
r = i / 100 and N = n

## Home / Housing Loan Interest Rate

#### Formula Used:

House Value = monthly×( ( 1+I / (100*12) ) years×12-1 )/( I / ( 100×12 )×( ( I / ( 100×12 ) ) + 1 ) year*12 )

Where,
Monthly = (monthly income + other income - monthly expeniture) × 28 /100
I = Interest

## Total Loan EMI Repayment

#### Formula:

EMI = ( P × r × (1+r)n ) / ((1+r)n − 1)
Total Loan Repayment = EMI × n

Where
EMI = Equated Monthly Installment
P = Loan Amount
r = Annual Interest rate / 1200
n = Terms/Period

## Education Loan EMI Repayment

#### Formula:

EMI = ( P × r × (1+r)n ) / ((1+r)n − 1)
Total loan repayment = EMI × n

Where,
EMI = Equated Monthly Installment
P = Loan Amount
r = Interest rate / 1200
n = Period

## Refinance Break Even Point Calculator

Breakeven point calculation is made easier using this online mortgage calculator.

## Annual Amortization

#### Formula:

A = P(r(1 + r)n / (1 + r)n - 1)

Where,

A = Monthly Pay
P = Loan Amount
r = Interest Rate
n = Loan Term

## Annual Payment

#### Formula:

AP = r(P) / (1 - (1 + r) - n)

Where,

AP = Annual Payment
P = Loan Amount
r = Interest Rate
n = Number of Years

## MCLR

#### Formula:

Marginal Cost of Funds = MCB x 0.92 + RN x 0.08
Marginal Cost of Funds Based Lending Rate = MCF + CRR + OC + TP

Where,

MCB = Marginal Cost of Borrowing
RN = Return on Net Worth
CRR = Negative Carry on CRR
OC = Operating Costs