When a person wants to buy an asset like house or car, the bank provide the borrower 80 to 90 percent of loan, the remaining cost will be contributed by borrower. The loan from the bank is paid back at regular period until the full amount is paid back is called as EMI. The Loan EMI Formula will be calculated with the interest and Principal. The remaining cost contributed by borrower to buy asset is the down payment. The EMI can be determined by the EMI Down Payment Formula provided below.
The benefit of Loan EMI Formula is that the borrower will know how much amount should be paid back each month. The EMI Down Payment Formula is explained and calculate the EMI by clicking the link below the formula.