What is EMI? How do I calculate EMI manually?
1. If you can use excel One of the easiest ways of calculating the EMI is by using the Excel spreadsheet. In Excel, the function for calculating the EMI is PMT and not EMI. You need three variables. These are rate of interest (rate), number of periods (nper) and, lastly, the value of the loan or present value (pv).: use formula =-pmt(rate,nper,pv) e.g. a. rate = per month rate = 10/12 = .83333