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EMI Calculator - CashPedia
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EMI Calculator

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What is Equated Monthly Installment (EMI)?

EMI is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

How is it calculated?

E = P × r × (1+r)^n / [ (1+r)^n - 1 ]

Where:
E = EMI
P = Principal Loan Amount
r = Monthly Interest Rate (Annual Rate/1200)
n = Loan tenure in months