How to calculate emi plz help


accountant

HOW TO CALCULATE LOAN EMI WITH INTERST

PRINCIPAL 100000/-

RATE 10%

DURATION 15 YEARS

KINDLY SOLVE WITH EASY DETAIL

 
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Consolidation and IndAS Application

For the given parameters EMI for 15 years would be Rs. 1074.61

Same can be calculated by using PPMT and IPMT formula in excel

Thanks

 
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IndigoLearn

you can also use www.emicalculator.net

 
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accountant

but sir , let me know how solve this ?

 
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Consolidation and IndAS Application

EMI calculator attached for your reference.



Attached File : 385087 1247543 emi calculator.xls downloaded 669 times
 
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accountant

thanx sir but i want to solve this practicaly

 
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accountant

without any formula in excel or without any software

 
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Chartered Accountant

EMI= Principal / Present value annuity Factor (r,n)

 

so here EMI=100000 / PVAF(10%,15y)=100000/7.6061=Rs 13,147

 

So emi is Rs 13147

 
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Student Audit Assistant

Originally posted by : krishna teja

EMI= Principal / Present value annuity Factor (r,n)

 

so here EMI=100000 / PVAF(10%,15y)=100000/7.6061=Rs 13,147

 

So emi is Rs 13147

The amount calculated above is called Equated Annual Installment (EAI) not Equated monthly Installment (EMI)

 

 
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CA Student

CALCULATING EQUATED MONTHLY INSTALLMENT (EMI)
.
In house finance, equated monthly installment (EMI) refers to the monthly payment towards interest and principal made by a borrower to a lender. EMI is calulated using a formula that considers loan amount, interest rate, and loan period as variables.
.
The formula for calculating EMI:
EMI = (L × I) × [(1 + I)^N  ÷ {(1 + I)^N } -1]
.
Where
L = loan amount
l = interest rate per annum divided by 12
^ = to the power of
N = loan period in months
.
Assuming a loan of Rs. 1 lakh at 9 % per annum, repayable in 15 years, the EMI calculation using the formula will be:
EMI = (1,00,000 × 0.0075) × [(1 + 0.0075) 180  ÷ {(1+0.0075) 180} - 1]
        = 750 × [3.838 ÷ 2.838]
        = 750 × 1.35236
        = 1,014


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