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assthha161:
equated monthly installment
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HERE IS YOUR ANSWER
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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Hey Dear !
=) Equated monthly installments .
Explanation :- An EMI is a fixed installment sum made by a borrower to a moneylender at a predefined date each timetable month .
Hope , It Helps .
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