APR Calculator

   There are different types of loan interest calculator you can use today to help you plan your finances and make things work to your advantage.
   The apr calculator solves for the EMI or Equated Monthly Installment of a loan. The EMI refers to the fixed repayment amount made by borrowers to lenders at specific dates every calendar month. The equated monthly installment is used for paying off both principle and interest rate every month so that over a particular number of years, the loan will be paid off in full. The formula used for EMI is EMI=PV×i×[(1+i)n(1+i)n−1]EMI=PV×i×[(1+i)n(1+i)n−1] wherein EMI stands for equated monthly installment, PV is for present value of loan amount, I is for monthly interest rate in the decimal form, n is for number of months of loan and p.a is per annum. The EMI loan is calculated like other mortgage or cat loans but makes use of somewhat different terminology.

   With no financial planning, it is all too easy to be entangled in a bad situation. Everyone wants to get through life with no need to worry about debts and loans. Unfortunately, very few people enjoy this kind of luxury. In this modern society, it is an integral part of life to deal with finances, and it is best I you are prepared at all times. Good thing that there is financial planning tools which will help you understand the repercussions of your decisions before you set thins in stone. Among these tools is none other than the loan calculator.