My friend is taking a loan to buy a house and he asked me what will be my EMI. He knew following figures and was curious to know his EMI
Loan Amount
Annual Interest Rate
Loan Period - Years
I quickly calculated EMI using PMT function in excel. This triggered me an idea of making a EMI calculator and sharing it with all of you.
Equated Monthly Installments are commonly knows as EMI. As per business dictionary EMI is "Hire purchase, lease, or loan -repayment installments that are constant in amount, and are usually collected in advance as post-dated checks"
In next post I will discuss how to make EMI Calculator. This will be about adding Spin Buttons ActiveX controls to worksheet and PMT function
Loan Amount
Annual Interest Rate
Loan Period - Years
I quickly calculated EMI using PMT function in excel. This triggered me an idea of making a EMI calculator and sharing it with all of you.
Equated Monthly Installments are commonly knows as EMI. As per business dictionary EMI is "Hire purchase, lease, or loan -repayment installments that are constant in amount, and are usually collected in advance as post-dated checks"
Download EMI Calculator Excel file to know your EMI
Input your figures to find out resultant EMI. Use spin buttons to fine tune your resultsIn next post I will discuss how to make EMI Calculator. This will be about adding Spin Buttons ActiveX controls to worksheet and PMT function
