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.

M Tool Online

Free Tools

MTool Online is a free resource provider site for online marketing, web developers, graphic designers, and business and day-to-day life toolkits. In this toolkit, we provide you with various types of tools like Text Content Tools, Images Editing Tools, Online Calculators, Unit Converter Tools, Binary Converter Tools, Website Management Tools, Development Tools, etc.