Financial Calculator

EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month so that over a specified number of years, the loan is paid off in full.

Compound interest is the interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods. Put simply, it is "interest on interest." This makes a deposit or loan grow at a faster rate than simple interest, making it the most powerful tool for long-term investing.

Sales tax or Value Added Tax (VAT) is calculated by multiplying the net base price of an item by the tax rate percentage. For example, if a product costs $100 and the tax rate is 10%, the tax amount is $10. The Gross Total (the final amount you pay) will be $110.

This calculator uses standard global mathematical formulas for amortization and compounding. However, the results should be used for estimation and planning purposes only. Real-world loans and investments may have additional fees, variable rates, or specific compounding schedules set by your local bank.