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    SandeepPachauri
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    This document compares loan repayment plans over 3, 6, 9, and 12 months. It shows the equal monthly installment (EMI), annual interest rate charged by the bank, and total cost payable to the bank for each repayment period. Opting for a longer repayment period reduces the EMI but increases the total interest cost.

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    This document compares loan repayment plans over 3, 6, 9, and 12 months. It shows the equal monthly installment (EMI), annual interest rate charged by the bank, and total cost payable to the bank for each repayment period. Opting for a longer repayment period reduces the EMI but increases the total interest cost.

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    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
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    7 views1 page

    Learn

    Uploaded by

    SandeepPachauri
    This document compares loan repayment plans over 3, 6, 9, and 12 months. It shows the equal monthly installment (EMI), annual interest rate charged by the bank, and total cost payable to the bank for each repayment period. Opting for a longer repayment period reduces the EMI but increases the total interest cost.

    Copyright:

    © All Rights Reserved
    Download as RTF, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Plan

    (months)

    EMI

    (payable to bank) Annual Interest


    (charged by bank) Total Cost
    (payable to bank)
    3

    9857.24

    12%

    29571.72

    5002.18

    12%

    30013.08

    3398.09

    13%

    30582.81

    12

    2589.31

    13%

    31071.72

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