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-12C keystrokes
- First calculate the payment
- 1 30 g n
- 2 8 g i
- 3 80000 PV
- 4 PMT = -587.01
- Then the remaining balance
- 5 5 g n
- 6 FV = - 76,055.89
g is the blue shift key — press it immediately before n or i to enter the term in months rather than years.