# Find current month balance loan repayment sum

#### Yvonneyeong

##### New Member
Im looking for help!!!
What's the formula to find up-to-date "Outstanding Balances" if:

Total Payable sum = \$168,600.00
Monthly Installment = \$5,620.00
Interest Rate = 4.31% p.a.
Tenure = 30 months
Contract from 16/06/2018 ~ 16/11/2020

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#### AlanSidman

##### Active Member
In Q7 =DATEDIF(N7,TODAY(),"M")
in R7 =G7-PV(L7/12,Q7,-K7)

and copy down

#### Yvonneyeong

##### New Member
The balance loan amount should be 93,324.00

#### AlanSidman

##### Active Member
What is the interest rate in your last example. Why have you added a new example with no explanation. How does this compare to the examples in your post 1. Incomplete information results in no answer.

#### Yvonneyeong

##### New Member
What is the interest rate in your last example. Why have you added a new example with no explanation. How does this compare to the examples in your post 1. Incomplete information results in no answer.
Alan,
Sorry for the mistake i've made. The balance outstanding loan amount during Jun2019 should be 95,540.00.
Enclosed herewith HP Schedule for your kind reference. Actually i need the formula which can show in the summary listing instead of i'm open the HP Schedule file to check.

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#### AlanSidman

##### Active Member
I don't understand your interest calculation. Normal calculation would be Outstanding Balance times interest divided by 12 as you are charging monthly. I believe that because you are using some other calculation, using Excel formulas to calculate Present Value arrives at a different value. I am stumped and will leave this for someone else to help.

#### Yvonneyeong

##### New Member
I don't understand your interest calculation. Normal calculation would be Outstanding Balance times interest divided by 12 as you are charging monthly. I believe that because you are using some other calculation, using Excel formulas to calculate Present Value arrives at a different value. I am stumped and will leave this for someone else to help.
Thanks for your help. Actually i'm using Financial calculation: "Sum of Digit" format to count the interest.