Darbin
Answered

Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Ask your questions and receive precise answers from experienced professionals across different disciplines. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

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.

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.