Loan Payment Formula

squeak24

Hi All

I am trying to find out how much money I should have made after so many months of my loan with Barclays. They claim I owe a set amount which I am disputing. Barclays have refused to give me the formula in which they calculate interest from start to finish.

Does anyone know how this can be done. I have looked at the compound formulas but this doesn't look right for the purpose of APR. Any ideas.

Many thanks in advance, any help is greatly received.

squeak24

I may just add what I would like to do is find out what the balance should be after so many months rather than find out what the monthly payment is. I have done some calculations already that prove that the amount is not correct, but I would like to do the calculation from start to finish without using figures that have been given to be by Barclays.

_Andy_

Try googling 'amortization calculator'

squeak24

Thanks for that, will look at that. I did find http://money.guardian.co.uk/calculator/form/0,,603119,00.html which did back up my own initial calculations but would like to check it by formula so will check it out.

Cheers for the actual name of what I am looking for