EMI Calculator
Summary
| Monthly EMI | ₹0 |
|---|---|
| Principal Amount | ₹0 |
| Total Interest Amount | ₹0 |
| Total Pay Amount | ₹0 |
| Rate of Interest % (p.a) | 0% |
Chart
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Investsphere Wealth’s EMI (Equated Monthly Installment) calculator is a free financial tool used to calculate the monthly installment amount required to repay a loan, such as a home loan, car loan, or personal loan, over a specified period. LM Wealth’s calculators are user-friendly and provide quick and accurate estimates of the monthly EMI based on the input parameters provided.
How to use LM Wealth EMI calculator?
Here’s how you can use a lump sum calculator:
Input Parameters:
1. Loan Amount: Enter the principal amount of the loan you wish to borrow.
2. Interest Rate: Input the annual interest rate charged by the lender, expressed as a percentage.
3. Loan Tenure: Specify the duration of the loan in terms of months or years.
Calculation:
The calculator uses the formula for calculating the Equated Monthly Installment (EMI) of a loan.
The formula is:
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]
Where:
EMI is the Equated Monthly Installment.
P is the principal loan amount.
r is the monthly interest rate (annual interest rate divided by 12 and expressed as a decimal).
n is the loan tenure in months.