hard20 pts · first answer countsmathfinance-math
EMI on a one-year loan
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), with r the monthly rate. What is the EMI for ₹1,00,000 at 12% a year for 12 months? (1.01^12 ≈ 1.1268)
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