► Purpose
The EMI (Equated Monthly Installment) Calculator helps users calculate their monthly loan repayment based on the loan amount, interest rate, and tenure.
► Process
- Enter the loan amount and down payment (if applicable).
- Provide the annual interest rate (in percentage).
- Enter the loan tenure in months.
- Click "Calculate EMI" to get your monthly installment.
► Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)