Question

Fullform of EMI and its meaning??

Answer 1

EMI= Equated Monthly Installments

An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full.

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Answer 2

it is Equated Monthly Installment