Loans Formula Payment [le balance is zero. d P == 1+ k 7 # Po is the balance in the account at the beginning (the principal, or amount of the loan). d is your loan payment (your monthly payment, annual payment, etc) r is the annual interest rate in decimal form. k is the number of compounding periods in one year. N is the length of the loan, in years 101, 168.30= 86,913 CH-CH 6.88 6.88 12 12 15 C120