Edu loan EMI calculation
How to calculate Education loan EMI and understanding interest rates?
Use spreadsheet ā to quickly calculate.
Hand calculation
P = 3,00,000 INR
R = 9.0% per annum = 0.75% per month = 0.75/100 points = 0.0075
n = 24 (say, 2 years)
Using spreadsheet
Update Blue cells in the spreadsheet ā as shown.
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