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Which of the following formula can be used to calculate the amount in EMI*EMIPMTAnnuityNone of above

Question

Which of the following formula can be used to calculate the amount in

EMI
EMIPMT
Annuity
None of above

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Solution

Your question seems to be incomplete. Could you please provide more details or clarify what exactly you want to calculate? The term EMI usually refers to Equated Monthly Installment, a fixed payment amount made by a borrower to a lender at a specified date each calendar month. The EMI formula is:

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

Where: P = Loan amount. This can be the principal amount you would like to apply for a loan for. R = Interest rate on the loan. This should be the monthly interest rate, which can be obtained by dividing the annual interest rate by 12. N = Loan term. This is the tenure of the loan in terms of months. So if the duration of your loan is 5 years, N will be 60.

However, without more context, it's hard to provide a more accurate answer.

This problem has been solved

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