A good article. Very informative. But the calculations discussed here revolve around the in-built functions given by Microsoft people in MS-Excel. But if the Microsoft people left defects in that program, and it is quite possible that they might have, then it is anybody's guess, we might never know if we had been paying more or less than what we should have paid.
To many people, this might sound like re-inventing the wheel, but I would like to know how I can calculate the EMIs for a loan manually without taking the help of the program written by Microsoft using a pen, paper and an electronic calculator. That would be very helpful.
