# EMI Calculator

## About EMI Calculator

The EMI Calculator is used to calculate the EMI (Equated Monthly Installment) and find out how much you need to pay every month towards your loan repayment.

## FAQ

EMI stands for equated monthly installment, which is a fixed payment owed each month on a property mortgage or other loan.

The EMI calculation formula is as follows:

where:

P = principal loan amount

r = annual interest rate / 12

n = number of monthly installments