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Softusvista Office (Pune), India
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EMI Solution

STEP 0: Pre-Calculation Summary
Formula Used
equated_monthly_installment = Loan Amount*Interest Rate*((1+Interest Rate)^Compounding Periods/((1+Interest Rate)^Compounding Periods-1))
EMI = Loan Amt*i*((1+i)^n/((1+i)^n-1))
This formula uses 3 Variables
Variables Used
Loan Amount- The loan Amount is the original principal on a new loan or principal remaining on an existing loan.
Interest Rate- Interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
Compounding Periods- Compounding Periods is the number of times compounding will occur during a period.
STEP 1: Convert Input(s) to Base Unit
Loan Amount: 1000 --> No Conversion Required
Interest Rate: 6 --> No Conversion Required
Compounding Periods: 10 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
EMI = Loan Amt*i*((1+i)^n/((1+i)^n-1)) --> 1000*6*((1+6)^10/((1+6)^10-1))
Evaluating ... ...
EMI = 6000.0000212408
STEP 3: Convert Result to Output's Unit
6000.0000212408 --> No Conversion Required
FINAL ANSWER
6000.0000212408 <-- EMI
(Calculation completed in 00.031 seconds)
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11 Other formulas that you can solve using the same Inputs

Number of Months
number_of_months = log10((Monthly Payment/Interest Rate)/((Monthly Payment/Interest Rate)-Loan Amount))/log10(1+Interest Rate) Go
Monthly Payment
monthly_payment = (Loan Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods)-1 Go
Future Value of a Present Sum when Compounding Periods are given
future_value = Present Value*(1+(Rate of Return/Compounding Periods))^(Compounding Periods*Number of Periods) Go
Present Value of a Future Sum when compounding periods are given
present_value = Future Value/(1+(Rate of Return/Compounding Periods))^(Compounding Periods*Number of Periods) Go
Present Value of Annuity
present_value_of_annuity = (Monthly Payment/Interest Rate)*(1-(1/(1+Interest Rate)^Number of Months)) Go
Future Value of Annuity
future_value_of_annuity = (Monthly Payment/Interest Rate)*((1+Interest Rate)^Number of Periods-1) Go
Loan Amount
loan_amount = (Annuity Payment/Interest Rate)*(1-(1/(1+Interest Rate)^Compounding Periods)) Go
Annual Percentage Yield
annual_percentage_yield = (1+(Stated annual interest rate/Compounding Periods))^Compounding Periods-1 Go
Nominal Interest Rate
nominal_interest_rate = Compounding Periods*((1+Effective Interest Rate)^(1/Compounding Periods)-1) Go
Future Value of a Present Sum when the total number of periods is given
future_value = Present Value*(1+Interest Rate)^Total Number of Periods Go
Present Value of a Future Sum when total number of periods is given
present_value = Future Value/(1+Interest Rate)^Total Number of Periods Go

EMI Formula

equated_monthly_installment = Loan Amount*Interest Rate*((1+Interest Rate)^Compounding Periods/((1+Interest Rate)^Compounding Periods-1))
EMI = Loan Amt*i*((1+i)^n/((1+i)^n-1))

What is EMI?

EMI or equated monthly instalment, 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 EMI of a loan depends on three factors: 1. Loan amount – This stands for the total amount that has been borrowed the individual. 2. Interest rate – This stands for the rate at which the interest is charged on the amount borrowed. 3. Tenure of loan – This stands for the agreed loan repayment time-frame between the borrower and the lender.

How to Calculate EMI?

EMI calculator uses equated_monthly_installment = Loan Amount*Interest Rate*((1+Interest Rate)^Compounding Periods/((1+Interest Rate)^Compounding Periods-1)) to calculate the EMI, EMI (Equated monthly installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMI and is denoted by EMI symbol.

How to calculate EMI using this online calculator? To use this online calculator for EMI, enter Loan Amount (Loan Amt), Interest Rate (i) and Compounding Periods (n) and hit the calculate button. Here is how the EMI calculation can be explained with given input values -> 6000 = 1000*6*((1+6)^10/((1+6)^10-1)).

FAQ

What is EMI?
EMI (Equated monthly installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month and is represented as EMI = Loan Amt*i*((1+i)^n/((1+i)^n-1)) or equated_monthly_installment = Loan Amount*Interest Rate*((1+Interest Rate)^Compounding Periods/((1+Interest Rate)^Compounding Periods-1)). The loan Amount is the original principal on a new loan or principal remaining on an existing loan, Interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets and Compounding Periods is the number of times compounding will occur during a period.
How to calculate EMI?
EMI (Equated monthly installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month is calculated using equated_monthly_installment = Loan Amount*Interest Rate*((1+Interest Rate)^Compounding Periods/((1+Interest Rate)^Compounding Periods-1)). To calculate EMI, you need Loan Amount (Loan Amt), Interest Rate (i) and Compounding Periods (n). With our tool, you need to enter the respective value for Loan Amount, Interest Rate and Compounding Periods and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
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