EMI Calculator with Prepayment amount

Hi Everyone -

I'm stuck with a calculation of calculating and EMI. Enclosed is the sample file I have been working

I'm calculating an EMI but the concern is if there is a partial payment in between the tenure of a loan how will the Principal amount along with interest will change

for an example - A loan of 4,00,0000 and tenure to repay the loan is 5 year (60 month) with an EMI of 83,033. but if the customer does a payment of 1,00,000 of in the 5th month and so on every few month with along with the EMI of 83,033 (no change in EMI).

I need your suggestion on what will be the remaining Principal amount and along with the interest and tenure

What is an EMI please?

Originally Posted by Pepe Le Mokko

What is an EMI please?

EMI - equated monthly instalment

sure, if you can share

This really worked