Loan Balance - Fixed Interest
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`Loan Balance = "L" *[(1+ "i" )^ "n" - (1+ "i" )^ "p" ] / [(1+ "i" )^ "n" - 1]`
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UUID | 74d0444b-f932-11e2-968f-bc764e049c3d |
This equation provides the balance on a fixed interest loan after a number of periods (p).
Inputs
The input parameters are:
- L - The Principal loan amount
- n - The number of periods in the duration of the loan
- p - The number of periods into the loan we want to compute the loan balance
- i - The periodic interest rate
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