# EMI Down Payment Calculator

The EMI is a fixed payment made by the borrower to the lender at a particular date of every month until the investment is completely paid. The contribution done by the borrower with the loan to buy the asset is called as down payment. The EMI Down Payment Calculator helps to calculate the EMI with different currency. Enter the value of Loan, Down payment, Annual interest rate and term of payment. The Loan EMI Calculator calculates the EMI automatically and the resultant value is displayed.

The EMI is a fixed payment made by the borrower to the lender at a particular date of every month until the investment is completely paid. The contribution done by the borrower with the loan to buy the asset is called as down payment. The EMI Down Payment Calculator helps to calculate the EMI with different currency. Enter the value of Loan, Down payment, Annual interest rate and term of payment. The Loan EMI Calculator calculates the EMI automatically and the resultant value is displayed.

Code to add this calci to your website

#### Formula:

e=( (p-d) × (r/(12×100)) × (1+ (r/(12×100)))^{n} )/((1+ (r/(12×100)))^{n}-1)
**Where,**
e= Equated Monthly Installment
p= Loan Amount
d=Down payment
r = Annual Interest rate
n = Term(n=12×n, if term is years)
### Example:

Calculate the EMI if the received loan amount is 10000$, the down payment paid is 2000$, the anual interest is 2% and the period of loan to repay is 2 years

#### Solution:

EMI = (10000-2000) * (2/(12*100)) * (1+(2/(12*100))²) / ((1+(2/(12*100))²-1)

= 28.3602 $