EMI Full Form | EMI Full Form

EMI Full-Form | EMI  Full Form

Guys do you know what is the EMI full form what does EMI mean,  if you don't have an answer of EMI full form then you don't need to be depressed because Today, in this post, we are going to give you the complete information of EMI  so friend Number EMI Full Form and read to learn the whole history of EMI last this post.

EMI Full Form:-

EMI full form is "Equated Monthly Installment", EMI full form is called "Equal Monthly Install". EMI is a type of monthly installment. The person who has to pay every month, who buys any kind of product on EMI. Friends, for example, when you buy something expensive like a car, laptop, jewelry or mobile, etc. then all these items are so valuable that you cannot pay their full price together or you have trouble in paying the whole price together. Have to face.

EMI full form EMI can be a good way for you in such a situation. By taking any product on EMI, you do not need to give the entire money together, rather you can buy any product by paying little every month. In this way, you can also buy precious things by removing some parts from your monthly income every month EMI full form is "Equated Monthly Installment".

Let's know how to calculate EMI or what is the formula for calculating EMI.

EMI full form is "Equated Monthly Installment".

EMI = [P x R x (1 + R) ^ N] / [(1 + R) ^ N-1],

P = Principal amount

R = Rate of Interest per month

If the rate of interest is 9% then how to calculate R:

9 / (12 × 100) This gives the rate of interest for each month.

N = number of installments / number of installments