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Forum Topic - How do calculate the EMI for loan?
- User Name-Response
- May 19 2016 05:08 AM
0 vote(s)
Author: Arwind S
Subject: How do calculate the EMI for loan?
EMI can be calculated manually by using mathematical formula
EMI = P . r. [(1+r)^n/ {(1+r)^n – 1}]
Where,
E is EMI
P is Principal Amount
r is rate of interest calculated on monthly basis.
n is loan tenure in number of months
In case if you are getting any kind of the problem to calculate EMI by manually then you can opt online EMI calculator for calculating the EMI of loan: https://www.bajajfinserv.in/finance/personal-loan/personal-loan-emi-calculator.aspx
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