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Reducing Balance EMI Calculator

This document contains an EMI calculator showing the amortization of a loan over 10 months. It shows the starting loan amount of $1,086,624 at an interest rate of 13.2%. Each month, a payment of $143,434 is made, with a portion going towards principal and the remaining towards interest. Over the 10 months, the loan is paid down from $1,086,624 to $0, with a total of $1,434,343.70 paid, including $347,719.70 in total interest.

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James
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92 views2 pages

Reducing Balance EMI Calculator

This document contains an EMI calculator showing the amortization of a loan over 10 months. It shows the starting loan amount of $1,086,624 at an interest rate of 13.2%. Each month, a payment of $143,434 is made, with a portion going towards principal and the remaining towards interest. Over the 10 months, the loan is paid down from $1,086,624 to $0, with a total of $1,434,343.70 paid, including $347,719.70 in total interest.

Uploaded by

James
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Reducing Balance EMI Calculator

Loan Amount (pv) $ 1,086,624.00


Interest Rate (rate) 13.20%
Number of EMIs (nper) 10

EMI Amount $143,434.37


Total Interest $347,719.70
Total Amount Payable $1,434,343.70

Starting Loan Starting Payable Payment on Payment on


Month
Amount Amount Principal Interest

1 $ 1,086,624.00 $1,434,343.70 $103,391.47 $11,952.86


2 $983,232.53 $1,290,909.33 $104,528.78 $10,815.56
3 $878,703.75 $1,147,474.96 $105,678.59 $9,665.74
4 $773,025.16 $1,004,040.59 $106,841.06 $8,503.28
5 $666,184.11 $860,606.22 $108,016.31 $7,328.03
6 $558,167.80 $717,171.85 $109,204.49 $6,139.85
7 $448,963.31 $573,737.48 $110,405.74 $4,938.60
8 $338,557.57 $430,303.11 $111,620.20 $3,724.13
9 $226,937.37 $286,868.74 $112,848.02 $2,496.31
10 $114,089.35 $143,434.37 $114,089.35 $1,254.98
11 ($0.00) $0.00 Err:502 Err:502
12 Err:502 Err:502 Err:502 Err:502
EMI Calculator

Total Payment Ending Loan Ending Payable


(EMI) Amount Amount

$143,434.37 $ 983,232.53 $1,290,909.33


$143,434.37 $ 878,703.75 $1,147,474.96
$143,434.37 $ 773,025.16 $1,004,040.59
$143,434.37 $ 666,184.11 $860,606.22
$143,434.37 $ 558,167.80 $717,171.85
$143,434.37 $ 448,963.31 $573,737.48
$143,434.37 $ 338,557.57 $430,303.11
$143,434.37 $ 226,937.37 $286,868.74
$143,434.37 $ 114,089.35 $143,434.37
$143,434.37 $ (0.00) $0.00
Err:502 Err:502 Err:502
Err:502 Err:502 Err:502

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