HOW TO CALCULATE LOAN EMI WITH INTERST
PRINCIPAL 100000/-
RATE 10%
DURATION 15 YEARS
KINDLY SOLVE WITH EASY DETAIL
rohit chadha (accountant) (107 Points)
08 November 2013HOW TO CALCULATE LOAN EMI WITH INTERST
PRINCIPAL 100000/-
RATE 10%
DURATION 15 YEARS
KINDLY SOLVE WITH EASY DETAIL
Sandeep Garg
(Consolidation and IndAS Application)
(1056 Points)
Replied 08 November 2013
For the given parameters EMI for 15 years would be Rs. 1074.61
Same can be calculated by using PPMT and IPMT formula in excel
Thanks
CA Suraj Lakhotia
(IndigoLearn)
(4898 Points)
Replied 08 November 2013
you can also use www.emicalculator.net
rohit chadha
(accountant)
(107 Points)
Replied 08 November 2013
but sir , let me know how solve this ?
Sandeep Garg
(Consolidation and IndAS Application)
(1056 Points)
Replied 08 November 2013
EMI calculator attached for your reference.
rohit chadha
(accountant)
(107 Points)
Replied 08 November 2013
thanx sir but i want to solve this practicaly
rohit chadha
(accountant)
(107 Points)
Replied 08 November 2013
without any formula in excel or without any software
Krishna Teja
(Chartered Accountant)
(1007 Points)
Replied 08 November 2013
EMI= Principal / Present value annuity Factor (r,n)
so here EMI=100000 / PVAF(10%,15y)=100000/7.6061=Rs 13,147
So emi is Rs 13147
Siddhartha
(Student Audit Assistant)
(272 Points)
Replied 08 November 2013
| Originally posted by : krishna teja | ||
 |
EMI= Principal / Present value annuity Factor (r,n) so here EMI=100000 / PVAF(10%,15y)=100000/7.6061=Rs 13,147 So emi is Rs 13147 |
 |
The amount calculated above is called Equated Annual Installment (EAI) not Equated monthly Installment (EMI)
Deepak Gupta
(CA Student)
(15922 Points)
Replied 08 November 2013
CALCULATING EQUATED MONTHLY INSTALLMENT (EMI)
.
In house finance, equated monthly installment (EMI) refers to the monthly payment towards interest and principal made by a borrower to a lender. EMI is calulated using a formula that considers loan amount, interest rate, and loan period as variables.
.
The formula for calculating EMI:
EMI = (L × I) × [(1 + I)^N ÷ {(1 + I)^N } -1]
.
Where
L = loan amount
l = interest rate per annum divided by 12
^ = to the power of
N = loan period in months
.
Assuming a loan of Rs. 1 lakh at 9 % per annum, repayable in 15 years, the EMI calculation using the formula will be:
EMI = (1,00,000 × 0.0075) × [(1 + 0.0075) 180 ÷ {(1+0.0075) 180} - 1]
= 750 × [3.838 ÷ 2.838]
= 750 × 1.35236
= 1,014
SARAVANAN.V
(Legal Advisor )
(27 Points)
Replied 11 November 2013
SoundSolutions
(CA Business)
(21 Points)
Replied 11 November 2013
RUSHIRAJSINH UMEDSINH JADEJA
(N.A)
(28 Points)
Replied 11 November 2013
Sandeep Garg
(Consolidation and IndAS Application)
(1056 Points)
Replied 11 November 2013
this is 12 X 100
Since EMI is monthly so annual rate is divided by 12
Shruthi
(Student Others)
(25 Points)
Replied 04 June 2015
The Mathematical formula for calculating EMI = [P x R x (1+R) ^n] / [(1+R)^ n-1].
P is the principal loan amount,
R rate of interest per month and
N is the the number of monthly instalments.
Manual calculations are too complicated to perform accurately, which is why many borrowers are left confused after availing a loan. Understanding this pain-point led BankBazaar to develop one of the easiest and most user-friendly online Loan EMI Calculators.
I saw one of the best website here you just enter Loan amount, Tenure and Interest rate you will get how much you will monthly EMI.
Source: https://www.bankbazaar.com/finance-tools/emi-calculator.H T M L
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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