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 of the loan at the end of year 5?

Please note:  The result is a negative number because it is a cash outlay.

First calculate the PAYMENT:

12

Sets period per year

30
8

80000

-

587.01

Then calculate the remaining balance:

5

-76,055.89