Design
an EMI calculator in android.
Description: The following program is an EMI calculator.
This program calculates the EMI on the basis of selected number of years and by
providing the rate of interest.
EMI – An equated monthly installement (EMI) is a fixed
payment amount made by a borrower to a lender at a specified date each calendar
month. The mathematical formula to calculate EMI = P*R+(1+R)/N/((1+R)N-1) where
P – Loan amount
R- Rate of interest
N – Tenure in number of years.
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