2006-12-15 18:36:29 · 8 answers · asked by dhiraj 1 in Business & Finance ➔ Renting & Real Estate
PRINCIPAL+INTEREST DIVIDED BY NO. OF INSTALMENTS.
2006-12-15 18:41:36 · answer #1 · answered by RAMAN IOBIAN 7 · 1⤊ 0⤋
let us make calculations simpler. loan amount = 12000 tenure = 1 year = 12 emi rate of interest = 12% = 1% per month month of borrowing = dec. 1 emi due in jan 2 emi due in feb 12 emi due in dec. in jan 12000/12(=1000) +120 =1120 in feb 12000/12(=1000) +110 =1110 in feb 12000/12(=1000) +10 =1010 so total interest =120+110+100+90 .....10 = 780 which means 12000+780 = 12780 need to be paid to close the loan account. 120780/12 = 1065 is the EMI for ready use the link is given below.
2016-05-22 22:52:37 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Go to www.hdfc.com follow the link of 'EMI calculator'. Enter the Loan amount, period, and the rate of interest and click on 'Calculate'.
2006-12-15 18:56:29 · answer #3 · answered by khare_mcsd 2 · 0⤊ 0⤋
Here banks plays havoc. Every bank has their own nack of extracting more money showing low interest..
2006-12-17 03:24:35 · answer #4 · answered by naren 3 · 0⤊ 0⤋
dear fr. all banks has ready emi sheet just ask , they will show u
2006-12-15 18:49:10 · answer #5 · answered by sandeep 1 · 0⤊ 0⤋
((Loan Amount % Flat Interst per year) * Tenour in years +Loan Amount)/ Tenour in months
2006-12-15 19:06:47 · answer #6 · answered by Archie 2 · 0⤊ 0⤋
P*i*(1+i)^n/((1+i)^n-1)
P=principal
i=interest rate per period
n=number of period i.e. number of instalments
2006-12-15 21:03:08 · answer #7 · answered by mms 2 · 0⤊ 0⤋
i dont know
2006-12-15 18:37:42 · answer #8 · answered by Anonymous · 0⤊ 0⤋