How to calculate remaining loan amount from initial loan and repayment percentage?
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I've paid off % of my loan. If I initially borrowed $ ...
How much do I still owe?
Calculation type: Calculating a percentage of a number,
then subtracting.
How to use the calculator:
Step 1: Find out how much you've already repaid. Use the Basic Percentage CALCULATOR ("What is X% of Y?"). Enter 30 [X] and $20000 [Y]. It will calculate 30% of $20000.
Step 2: Subtract the repaid amount (Step 1) from the initial loan.
The formula:
We want the remaining balance. We've repaid 30% of $20000.
Repaid amount = (30 / 100) × $20000 = 0.3 × $20000 = $6000
Amount to repay = $20000 - $6000 = $14000
How to use the calculator:
Step 1: Find out how much you've already repaid. Use the Basic Percentage CALCULATOR ("What is X% of Y?"). Enter 30 [X] and $20000 [Y]. It will calculate 30% of $20000.
Step 2: Subtract the repaid amount (Step 1) from the initial loan.
The formula:
We want the remaining balance. We've repaid 30% of $20000.
Repaid amount = (30 / 100) × $20000 = 0.3 × $20000 = $6000
Amount to repay = $20000 - $6000 = $14000
Answer: I still owe $ .