Loan EMI Calculator
How to Use:
Enter the principal amount, annual interest rate, and tenure (in months) of your loan, then click the "Calculate EMI" button.
Terms:
- Principal: The amount of money you borrow.
- Annual Interest Rate: The annual interest rate of the loan in percentage. For example, if the interest rate is 5%, enter 5.
- Tenure: The length of time over which you agree to repay the loan, in months.
- EMI: Equated Monthly Installment, or the fixed payment you make each month to repay the loan.
- Total Interest Paid Over the Tenure: The total amount of interest you pay over the life of the loan.
- Total Principal Paid Over the Tenure: The total amount of principal you pay over the life of the loan, which should be equal to the original principal amount.
