The Principal Remaining equation calculates the principal balance remaining on a loan after a specified month and year of a loan payment. 

Inputs

This equation will take as an input:

• a loan start date  (month/Year)
• a request report date (month/Year) for the remaining principal 
• loan initial principal (P)
• loan interest rate (r)
• loan term in years (n)

The equation will output the Principal balance at that Request Report Date according to information generated by a basic Amortization calculation.

Usage

This equation will calculate the Remaining Principal on a loan and allow you to answer the question: How much do I still owe on my home after this payment?

The equation will allow you to set the Start Date for the loan, and will let you set Today's date (or some other date) to evaluate the Remaining Principal.

You can also enter an additional extra monthly payment into the calculation.  The additional monthly payment amount will be applied each payment period to the principal payment.  The extra amount can be left blank to see results for a Standard Fixed Rate Amortization.

See Also

• Amortization
• Personal Finance