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how to find emi formula. The total amount payable will be 134935 120 16192200 currency units that includes currency units 6192200 as. Separating the Principal and Interest Components for Each Month.
Check Here The Steps To Calculate Home Loan Emi Using Home Loan Emi Calculator Provided By Bankbazaar Com Home Loans Loan Loan Calculator from in.pinterest.com
Use this calculator to reverse calculate interest rate if you know the Equated Monthly Instalment EMI of your loan. EMI P R12 1R12N 1R12N-1 where P Principal loan amount. The mathematical formula to calculate EMI is.
You can make this calculation using a simple excel sheet in the following manner.
For example if you borrow 10000000 units of a currency from the bank at 105 annual interest for a period of 10 years ie 120 months then EMI units of currency 10000000 000875 1 000875 120 1 000875 120 1 units of currency 134935. For the mathematically curious minded here is the exact EMI formula that can be used for calculating EMI amount for any given values of Principal Interest Rate and Loan Period. EMI P R12 1R12N 1R12N-1 where P Principal loan amount. EMI P X R12 X 1R12 N 1R12 N-1.
