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EMI Calculator

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Loan Repayment

✖The Loan Amount is the original principal on a new loan or principal remaining on an existing loan.ⓘ Loan Amount [LA]			+10% -10%
✖Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.ⓘ Interest Rate [R]			+10% -10%
✖Compounding Periods is the number of times compounding will occur during a period.ⓘ Compounding Periods [CP]			+10% -10%

✖Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.ⓘ EMI [EMI]

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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 = LA*R*((1+R)^CP/((1+R)^CP-1))
This formula uses 4 Variables

Variables Used

Equated Monthly Installment - Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
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 the 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: 20000 --> No Conversion Required
Interest Rate: 0.2 --> No Conversion Required
Compounding Periods: 10 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

EMI = LA*R*((1+R)^CP/((1+R)^CP-1)) --> 20000*0.2*((1+0.2)^10/((1+0.2)^10-1))

Evaluating ... ...

EMI = 4770.45513765718

STEP 3: Convert Result to Output's Unit

4770.45513765718 --> No Conversion Required

FINAL ANSWER

4770.45513765718 ≈ 4770.455 <-- Equated Monthly Installment

(Calculation completed in 00.004 seconds)

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< Loan Calculators

Remaining Loan Balance

LaTeX Go Future Value of Loan Amount = Loan Principal*(1+Rate per Payment)^Number of Payments Per Year-Total Payments*(((1+Rate per Payment)^Number of Payments Per Year-1)/Rate per Payment)

EMI of Car Loan

LaTeX Go Monthly Payment of Car Loan = Principal Car Loan Amount*(Interest Rate/(12*100))*(1+(Interest Rate/(12*100)))^Months/((1+(Interest Rate/(12*100)))^Months-1)

EMI

LaTeX Go Equated Monthly Installment = Loan Amount*Interest Rate*((1+Interest Rate)^Compounding Periods/((1+Interest Rate)^Compounding Periods-1))

Loan Amount

LaTeX Go Loan Amount = (Annuity Payment/Interest Rate)*(1-(1/(1+Interest Rate)^Compounding Periods))

EMI Formula

LaTeX Go

Equated Monthly Installment = Loan Amount*Interest Rate*((1+Interest Rate)^Compounding Periods/((1+Interest Rate)^Compounding Periods-1))
EMI = LA*R*((1+R)^CP/((1+R)^CP-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 Equated Monthly Installment, EMI (Equated monthly installment) is a fixed amount of money that a borrower needs to pay to the lender at a specified date each month as part of repayment of a loan. Equated Monthly Installment is denoted by EMI symbol.

How to calculate EMI using this online calculator? To use this online calculator for EMI, enter Loan Amount (LA), Interest Rate (R) & Compounding Periods (CP) and hit the calculate button. Here is how the EMI calculation can be explained with given input values -> 4770.455 = 20000*0.2*((1+0.2)^10/((1+0.2)^10-1)).

FAQ

What is EMI?

EMI (Equated monthly installment) is a fixed amount of money that a borrower needs to pay to the lender at a specified date each month as part of repayment of a loan and is represented as EMI = LA*R*((1+R)^CP/((1+R)^CP-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 the principal, by a lender to a borrower for the use of assets & Compounding Periods is the number of times compounding will occur during a period.

How to calculate EMI?

EMI (Equated monthly installment) is a fixed amount of money that a borrower needs to pay to the lender at a specified date each month as part of repayment of a loan 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 (LA), Interest Rate (R) & Compounding Periods (CP). With our tool, you need to enter the respective value for Loan Amount, Interest Rate & 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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