Description
EMI or equated monthly installment, as the name suggests, is one part of the equally divided monthly outgoes to clear off an outstanding loan within a stipulated time frame.
The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n - 1) where P= Loan amount, r= interest rate, n=tenure in number of months. ... The higher the loan amount or interest rate, the higher is the EMI payments and vice versa.
Picture of all the blocks
Download link
com.AK_Tech.EMICalculator.aix (6.0 KB)