answersLogoWhite

0


Best Answer

The answer depends on when interest is calculated, how frequently payments are made, the interest rate being charged and the life time of the loan. There are a number of "interest calculators" available on the internet that can probably show you the answer - working out the answer from scratch means you'll need to add on the interest for each payment / interest cycle over the 12 months and then you can work out the average. If your using this to calculate your interest then an accurate calculation will depened on how your interest is calculated ie. daily monthly semi-annual, or annual. The simplist answer is take the balance of the loan at the end of each month, add them together and then divide by 12

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How do you calculate a 12 month average balance on a loan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the monthly interest payment on 10000 dollar loan for 3 years at 5 percent interest per month?

Assuming that the loan principal is paid off in equal installments AND the monthly payment is to be kept the same, the average simple interest paid per month for the loan may be computed as follows: $10,000 principal balance at time 0 months $0 principal balance at time 36 months ($10,000 + $0) / 2 = $5,000 average balance $5,000 is average balance throughout the period of the loan $5,000 x 5% per month = approximately $250 per month. However, the amount of REAL interest is different throughout the life of the loan.


Will a calculator for auto loans help you determine what your monthly payment will be?

Yes, a calculator for auto loans will help you determine how much your monthly payment will be and that is because it will balance out your auto loan will be for, and calculate how much you will own each month dependent on how much your loan will be.


What is the average interest rate on a vehicle title loan?

Bankrate.com list the average 36 month car loan at 6.44%


How do you calculate Interest rate if loan amount and monthly payments and loan amount is given?

17k 300 per month


Is Loan on balance sheet or off balance sheet?

Loan is on balance sheet


How much is the average student loan?

Student loan varies from lender to lender, but on an average it is around 1300 Euro. I took a student loan for my college studies from http://wwwcash.co.ukyou can calculate the loan amount and interest rates there.


Can you check your loan balance here?

No, you can not check your loan balance here.


Is there anyway I can calculate how much loan I can get?

You can use a loan calculator to find out the exact amount of loan you can get. You need to fill in a few details and it will give out the exact amount you will need to pay every month.


How do you sell motorhome with a loan balance?

You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.


What is 4.9APR equal too per month?

4.9% / 12 = .408% , in other words, the loan balance multiplied by .00408.


How do i calculate loan payments?

Cut & pase this link into your browser: http://rws.rwstools.com/templateroot/Calculators.asp?PVLID=26316 Or you can do it the hard way: payment = Balance*(int/(1-(1/(1+int)^term))) Balance = the balance of the loan int = the interest rate divided by 1200 term = the number of years to payoff the loan times 12 Also, if you have Microsoft Excel, there is a function that calculates loan payments.


What is the balance on a loan?

The balance means the amount of money that you still owe on the loan.