Sunday, August 2, 2009

EMI Calculator

Enter the Principal amount (the amount of loan to be taken), Rate of Interest per annum/year and the number of Months for which the loan is to be taken. The EMI would be calculated dynamically.

PrincipalRate of InterestMonths

EMI Formula = p*r*(1+r)n/{(1+r)n-1}

p = principal amount
r = interest rate per month (ex: if interest rate per annum is 10% then r = (10/12)/100
n = tenure in months

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