Question

What is EMI ?????.....

Answer 1

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EMI, which stands for equated monthly installment, is the monthly amount payments we make towards a loan we opted for. “EMI payments include contributions towards both principal and interest on the loan amount. The interest component constitutes the major portion of the EMI payment in the initial stages.

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Answer 2

Answer:

Equally Monthly installment

Explanation:

EMI or equated monthly installment, as the name suggests, is one part of the equally divided monthly outgoes to clear off an outstanding loan within a stipulated time frame.

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