Can anyone explain how should the calculation to be made to generate a repayment schedule so that the EMI's goes in a Geometric progression of ratio 0.01(ie;1%).
RE:EMI Calculation
by Bhargavi on Jan 27, 2006 09:33 PM Permalink
Emi Calculation with clear examples for a loan of Rs.30,00,000 @ 12% interest and no. of instalements is 90 months I want explanation with formula stating this loan transaction
Posting this message for the benefit of other folks like myself who want to know the formula used for calculating the EMI. I found this info at: http://mathforum.org/dr.math/faq/faq.interest.html
EMI = Pi/[q(1-[1+(i/q)]^-nq)]. P = Loan Amount, or, Principal Amount i = Interest Rate per Year q = no of payment periods per year n = no of loan years
So, if you wanted to calculate the EMI for a loan amount of Rs.100000, with an interest rate of 7.25% per year, payable in monthly installments over 5 years:
RE:EMI Calculation Example
by pritesh on Mar 05, 2006 09:50 AM Permalink
Hello sir/madam If we want to calculated Annual and dailt rest then how you fine that .
RE:EMI Calculation Example
by suresh Vaze on Sep 03, 2006 01:18 PM Permalink
this is really a good article...keep transferring such good knowledge... keep this good work going...
