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What is EMI? How do I calculate EMI manually?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Rashmitha asked almost 3 years ago

What is EMI? How do I calculate EMI manually?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered almost 3 years ago

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

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