Question

How to fix calculate EMI of a loan amount for 48 installments.pls solve it quickly it's urgent. The right answer will be marked as brainliest.If uh don't know the answer than not answer any irrelevant answers.​

Answer 1

Explanation:

In Diminishing Balance Interest Rate method, interest is calculated every month on the outstanding loan balance as reduced by the principal repayment every month. EMI payment every month contains interest payable for the outstanding loan amount for the month plus principal repayment.