Future Loan Balance

What would be the balance on a $65,000 home loan at the end of 5 years if the monthly payment is $700.00 and the interest rate is 9.25% compounded monthly?

Enter the following values in the input fields:
Present Value = 65,000
Payment/Deposit = -700
Periods = 60 (i.e. 5 X 12 = 60)
Periods/Year = 12
Interest Rate = 9.25
Set Payment/Deposit Timing for End.

Now click the Future Value button. Result: Future Value = 49,894.86.

The Total Interest Compounded box also shows the total interest paid on the loan at the end of five years would be $26,894.86. See the screen snapshot of this calculation below:

Examples

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