EMI Calculator
Calculate your monthly loan payments instantly
Principal Amount
$500,000
Total Interest
$465,464
Total Payable
$965,464
How EMI is Calculated
EMI (Equated Monthly Installment) is calculated using the following formula:
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where:
- P = Principal loan amount
- r = Monthly interest rate (annual rate / 12 / 100)
- n = Loan tenure in months