Loan Affordability Calculator

Payment to Loan Amount

Loan affordability estimates the loan principal supported by a monthly payment, interest rate, and term.

Formula: principal = payment x [(1+r)^n - 1] / [r(1+r)^n].

Understanding Loan Affordability

1. What This Calculator Measures

Loan affordability estimates how much principal a chosen monthly payment can support.

2. How the Calculation Works

The calculator rearranges the amortized loan payment formula using the monthly rate and number of payments.

3. Formula or Rule Used

principal = payment x [(1+r)^n - 1] / [r(1+r)^n].

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