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Let us consider that you are borrowing a car loan from a bank. Your loan amount is two lakh
rupees, and the Rate of Interest is 10% with 25 months of tenure.
Now, you wish to calculate and see the different EMI rates for different rates of interest.
EMI
Total Amount
Interest Amount
To calculate the above-mentioned fields, we require the following respective formulas as shown
below.
EMI
Total Amount
Interest Amount
Now, create a new column with all the rates of interest you wish to look for. Followed by that,
write the cell address of the EMI in your table in the next column. In this case, it is B7. The table
should appear something like below.