EMI is calculated using the formula:
EMI=P×R×(1+R)N(1+R)N-1
Where:
- P = Loan principal amount
- R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- N = Loan tenure in months
>
EMI is calculated using the formula:
EMI=P×R×(1+R)N(1+R)N-1
Where:
Sign up for latest updates and offers