Business Loan Calculation, formulas

Business Loan calculator is an EMI calculator which helps you calculate your monthly repayments.

(All you have to do is, Just enter the loan amount, term of loan (in months) and the annual rate of interest, and you are done.)

The Business loan calculator uses the following formulas:

Monthly Repayments = ( P × r × (1+r)n ) / ((1+r)n - 1)

Amount Repayable = Monthly Payment × n

Where,

Monthly Repayments or EMI = Equated Monthly Installment

r = Interest rate / 1200

P = Loan Amount

n = Period