Question 1

How is EMI calculated?

Accepted Answer

EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is principal, R is monthly interest rate (annual rate/12/100) and N is number of months.

Question 2

Can I use decimal values for interest or tenure?

Accepted Answer

Yes. You can use decimal interest rates and decimal years for precise calculations (e.g., 1.5 years).

Question 3

Does this calculator show total payable amount?

Accepted Answer

Yes — the calculator shows monthly EMI, total interest payable and total amount (principal + interest).

EMI Calculator

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