**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.

Principal | Rate of Interest | Months | |||
---|---|---|---|---|---|

EMI |

EMI Formula = p*r*(1+r)

^{n}/{(1+r)

^{n}-1}

where

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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