Remaining balance on a loan
This will calculate: your remaining balance or balloon payment on an amortized loan.
Example: you borrow $80,000 and agree to pay it back in equal monthly payments over 30 years at 8% interest. What is the balance at the end of year 5?
Calculate the payment first, then the remaining balance.
Please note: the result is a negative number because it is a cash outlay.
Prefer to let the site do the arithmetic? Use the remaining balance form.
- HP-10B keystrokes
- First calculate the payment
-
1
12
P/YR
Sets twelve periods per year
- 2 30 N
- 3 8 I/YR
- 4 80000 PV
- 5 PMT = -587.01
- Then the remaining balance
- 6 5 N
- 7 FV = -76,055.89
P/YR tells the calculator how many payments there are in a year. Set it first: 12 for monthly, 1 for annual. It stays set until you change it. The plain gold key is the shift key. Press it immediately before another key to reach the gold function printed above that key.