Question about Microsoft Office Standard for PC
What function does one use to calculate emi on excel
The function in Excel for calculating EMI is not EMI but PMT. It requires minimum three arguments. They are 1. Rate of interest (Rate), 2. Number of periods (Nper) and 3. Value of loan or present value (Pv) in that order, that is, PMT (Rate, Nper, Pv)
If you want to find EMI for 1 lakh at 10% annual interest for 10 years you enter the following in one of the cells:
= pmt(10%/12, 10*12, 100000)
Borrowed from http://www.hindu.com/pp/2004/02/28/stories/2004022800160500.htm
Posted on Nov 09, 2007
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Posted on Jan 02, 2017
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