# Loan Calculator

A free online Calculator that can be helpful for you to Calculate Loans EMI within a second. With MTool Online tool, you can use various free calculators, software, and converter that can help you to use online.

## How to Calculate EMI for a Home Loan or Car Loan or Personal Loan?

To calculate the loan amount, follow these steps:

**Step 1:** Determine the desired loan amount.**Step 2: **Determine the interest rate per period (e.g., per month or per year).**Step 3: **Determine the number of periods (e.g., number of months or number of years) over which the loan will be repaid.

Use the following formula to calculate the loan amount:

Loan amount = P / (1 - (1 + r)^-n)

where P is the desired loan amount, r is the interest rate per period as a decimal, and n is the number of periods.

**For example**, let's say you want to borrow $10,000 at an annual interest rate of 5% to be repaid over 3 years (36 months).

Desired loan amount: $10,000

Interest rate per period: 5% per year, or 0.05/12 = 0.0041667 per month

Number of periods: 36 months

Using the formula:

Loan amount = $10,000 / (1 - (1 + 0.0041667)^-36)

Loan amount = $10,000 / (1 - 0.1748)

Loan amount = $10,000 / 0.8252

Loan amount = $12,120.76 (rounded to 2 decimal places)

So the loan amount in this example would be $12,120.76.

If you have specific loan terms and would like me to calculate the loan amount here.

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