CV 10,000,000.00 CV 10,000,000.

00
Rate 12% yearly Rate 12% yearly
1% monthly 1% monthly
Time 240 months Time 240 months
20 years 20 years

First EMI paid 1st month moratorium 10,100,000.00

EMI amount = E 2nd month moratorium 10,201,000.00
3rd month moratorium 10,303,010.00
CV1 = CV+CV*R-E New CV 10,303,010.00
CV2 = CV1+CV1*R-E EMI 110,108.61 As EMI amount is fixed
CV2 = CV(1+R)^2-E(1+R)-E
CV3 = CV2+CV2*R-E
CV3 = CV(1+R)^3-E(1+R)^2-E(1+R)-E
.
.
.
CVN = CV(1+R)^N-E(1+(1+R)+(1+R)^2+…..(1+R)^(N-1))
CVN = CV(1+R)^N-E(((1+R)^N-1)/R)
At nth time CVN i.e amount to be paid is 0,

𝐸=𝐶𝑉×𝑅×(1+𝑅)^𝑁/((1+𝑅)^𝑁−1)

EMI 110,108.61
As EMI amount is fixed G13 = G11*G4*(1+G4)^N/(((1+G4)^N)-1)

Let (1+G4)^N = a
G13 = G11*G4*a/(a-1)

Let a/(a-1) = b

G13 = G11*G4*b
103,030.10
b 1.068703353
1/b 0.935713355
1/a 0.064286645
a 15.55533031
(1.01)^N 15.55533031
N*log(1.01) log(15.5553303)
N 275.8102625
276 months
23 years