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Education Loan for Masters

Updated on Nov 15, 2022
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An online EMI calculator can also provide a thorough amortization chart of your EMI. For this, you might utilize a free online education EMI calculator. Simply fill in the needed loan amount, the current interest rate, and your chosen payback period in the appropriate boxes. You may either type the numbers into the fields or adjust the values with the slider (depending on the calculator). Once you have entered the right data, the amortization chart will be promptly detailed, with information about your total principal amount and total interest to be paid.

The amount of your Equated Monthly Installment (EMI) on your education loan is determined by several variables. These are the factors:

  • The loan's interest rate

  • Amount of the loan

  • Repayment period

How to Work Out Your Education Loan EMI

The formula for calculating your educational loan EMI would be as follows:

[P x R x (1+R)N]/[(1+R)N-1] EMI Amount

P stands for the principal amount.

R is the interest rate.

N is the number of years it will take to repay the loan (this is calculated in months)

An online EMI calculator can also provide a thorough amortization chart of your EMI. For this, you might utilize a free online education EMI calculator. Simply fill in the needed loan amount, the current interest rate, and your chosen payback period in the appropriate boxes. You may either type the numbers into the fields or adjust the values with the slider (depending on the calculator). Once you have entered the right data, the amortization chart will be promptly detailed, with information about your total principal amount and total interest to be paid.

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