Curious about the total amount you’ll be repaying on a loan? Utilize our user-friendly loan repayment calculator for an estimation.
Loan repayment formula
![\[EMI = P \times \frac{r(1+r)^n}{(1+r)^n - 1}\]](https://x-calculator.com/wp-content/ql-cache/quicklatex.com-c9358b14ce4dbfbe9152d68c5756621c_l3.png "Rendered by QuickLaTeX.com")
![\[Total Loan Repayment = Monthly Payment * n\]](https://x-calculator.com/wp-content/ql-cache/quicklatex.com-7940025bba3e9218c073746071754115_l3.png "Rendered by QuickLaTeX.com")
where:
- EMI - is the Equated Monthly Installment.
- P - is the principal amount of the loan.
- r - is the monthly interest rate (expressed as a decimal).
- n – is the total number of payments
