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How is EMI Calculated or What is the Mathematical basis for calculating EMI

saved under Loan/EMI by syam1224

EMI or Equated Monthly Installments is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full.Mathetical proof behind how the EMI formula is derived.
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created by syam1224 on 2008-05-09 04:25:56

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