EMI Calculation
This query is : Resolved
15 April 2011
300000 loan, for 5 years @ 14%, sir plz calculate the emi with interest and give me the formula ?
15 April 2011
http://www.deal4loans.com/Contents_Calculators.php
https://www.caclubindia.com/share_files/files_display_search_results.asp?search_txt=emi+calculator&x=0&y=0
See the above link.
https://www.caclubindia.com/share_files/files_display_search_results.asp?search_txt=emi+calculator&x=0&y=0
See the above link.
15 April 2011
sir u dont have any formula to calculate this with calculator
15 April 2011
This is the formula to calculate:
E = P×r×(1 + r)n/((1 + r)n - 1)
E is EMI
where P is Principal Loan Amount
r is rate of interest calculated in monthly basis it should be = Rate of Annual interest/12/100
if its 10% annual ,then its 10/12/100=0.00833
n is tenure in number of months
Eg: For 100000 at 10% annual interest for a period of 12 months
it comes to 100000*0.00833*(1 + 0.00833)12/((1 + 0.00833)12 - 1) = 8792
E = P×r×(1 + r)n/((1 + r)n - 1)
E is EMI
where P is Principal Loan Amount
r is rate of interest calculated in monthly basis it should be = Rate of Annual interest/12/100
if its 10% annual ,then its 10/12/100=0.00833
n is tenure in number of months
Eg: For 100000 at 10% annual interest for a period of 12 months
it comes to 100000*0.00833*(1 + 0.00833)12/((1 + 0.00833)12 - 1) = 8792
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