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10-05-2011, 09:07 PM	#1 (permalink)
azaad_shri75 BE FREE Join Date: Apr 2005 Location: Akash Ganga Posts: 1,565	Algorithm I need a algorithm for EMI calculations used by banks , a detailed one.......................... __________________ "To know that we know what we know, and to know that we do not know what we do not know, that is true knowledge." ~ Copernicus

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10-05-2011, 10:01 PM	#2 (permalink)
krishnandu.sarkar Simply a DIGITian Join Date: Nov 2007 Location: Kolkata Posts: 2,942	Re: Algorithm I guess for that you need to know the EMI Schemes used by banks. Each have their own scheme which depends on time period and amount. __________________ Read The Forum RULES First. Before PM'ing Or Asking Any Questions To Any Mod Read The FAQ's Before Starting A New Thread Read The STICKY THREADS First Before Participating In Bazaar Section Read The BAZAAR RULES

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11-05-2011, 06:22 PM

#3 (permalink)

Pratul_09

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Re: Algorithm

Quote:

Originally Posted by azaad_shri75

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I need a algorithm for EMI calculations used by banks , a detailed one..........................

it would be better if you read about it here
PMT. Banks use PMT to calculate the Equated Monthly Installment.

so if you have 10% int. rate for 1,00,000 loan amt for 5 yrs then the formula is
= PMT((10/100)/12, 5*12, -100000) = 2124.7

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11-05-2011, 08:30 PM	#4 (permalink)
azaad_shri75 BE FREE Join Date: Apr 2005 Location: Akash Ganga Posts: 1,565	Re: Algorithm okay, got some idea............, still some doubts......... __________________ "To know that we know what we know, and to know that we do not know what we do not know, that is true knowledge." ~ Copernicus

11-05-2011, 08:39 PM	#5 (permalink)
Pratul_09 Broken In Join Date: Sep 2007 Location: Navi Mumbai Posts: 181	Re: Algorithm post your doubts

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