EMI stand for Equated Monthly Installment. This calculator is used to calculate per month EMI of loan amount if loan amount that is principal, rate of interest and time in years is given as input.
E = (P.r.(1+r)n) / ((1+r)n – 1)
P = loan amount i.e principal amount
R = Interest rate per month
T = Loan time period in year
Monthly EMI is= 461.449677
Explanation : When we provide amount of money i.e, principal, rate of interest, time and this program will calculate amount of emi.
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