emi

EMI: HOW TO CALCULATE EMI

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMI depends upon the tenure for which a loan is taken. EMI is high for a tenure of short period of time as compared to long period. Equated […]

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LOAN: TYPES OF LOAN

Loan •A loan is a form of debt incurred by an individual or other entity. •The lender, usually a corporation, financial institution, or government advances a sum of money to the borrower. •In return, the borrower agrees to a certain set of terms including any finance charges, interest, repayment date, and other […]

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