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Car loan emi calculator
best for cars loan calculation
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best for cars loan calculation
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EMI -- Equated Monthly Installment- is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., a number of months, in which the loan has to be repaid. This amount has to be paid monthly.
