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EMI Calculator

This tool calculates the monthly installment or the EMI for a loan.
The EMI (Equated Monthly Installment) is fixed for the tenure of a loan. It has two components: principal and interest. In the beginning the interest component is higher which decreases with time. The principal component increases with time.
The EMI depends on
the loan amount,
the interest rate,
the tenure of the loan
Loan amount ()
Interest rate  %
Tenure  Years
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