Darbin
Answered

Westonci.ca is the premier destination for reliable answers to your questions, provided by a community of experts. Get quick and reliable solutions to your questions from a community of seasoned experts on our user-friendly platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

what is the meaning of EMI calculation​

Sagot :

ahsanirfan1971

What Is an Equated Monthly Installment (EMI)?

An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are applied to both interest and principal each month so that over a specified number of years, the loan is paid off in full. In the most common types of loans—such as real estate mortgages, auto loans, and student loans—the borrower makes fixed periodic payments to the lender over the course of several years with the goal of retiring the loan.

emi79999

Answer:

equated monthly installment

An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are applied to both interest and principal each month so that over a specified number of years, the loan is paid off in full.

Step-by-step explanation:

An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are applied to both interest and principal each month so that over a specified number of years, the loan is paid off in full. In the most common types of loans—such as real estate mortgages, auto loans, and student loans—the borrower makes fixed periodic payments to the lender over the course of several years with the goal of retiring the loan.

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.