Loan EMI Calculator
Calculate Equated Monthly Installments (EMI) for loans with amortization schedule, total interest, and payment breakdown.
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About EMI Calculation:
- EMI Formula: [P × R × (1+R)^N] / [(1+R)^N - 1]
- P = Principal loan amount, R = Monthly interest rate, N = Number of months
- EMI includes both principal and interest components
- In early months, interest component is higher; principal component increases over time
- Amortization schedule shows month-by-month breakdown of payments