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EMI Calculation Formula

E = P×r×(1 + r)n/((1 + r)n – 1)

E is EMI

P is the Principle Loan Amount

r is the rate of interest calculated on a monthly basis it should be = Rate of Annual interest/12/100

if its 10% annual ,then its 10/12/100=0.00833

n is tenure in a number of months

emi calculation formula

EMI Calculator

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