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Magnetism

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3 Oct 2008 21:47:23 IST

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1150

et me see...which student solves it first...

None

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STONE COLD RATTLESNAKE

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3 Oct 2008 21:53:29 IST

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Equated Monthly Installment - EMI

A fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full.

With most common types of loans, such as real estate mortgages, the borrower makes fixed periodic payments to the lender over the course of several years with the goal of retiring the loan. EMIs differ from variable payment plans, in which the borrower is able to pay higher payment amounts at his or her discretion. In EMI plans, borrowers are usually only allowed one fixed payment amount each month.

The benefit of an EMI for borrowers is that they know precisely how much money they will need to pay toward their loan each month, making the personal budgeting process easier.

Avirup Dasgupta

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4 Oct 2008 22:56:01 IST

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Sir, I have got my mistake and have edited this post.

Now the post length excceds the limit , so I've broken them into two.

Read part1 first and then part2.

reddevil_2009

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5 Oct 2008 19:28:03 IST

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Vikram Saxena

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5 Oct 2008 19:45:12 IST

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the ans posted by id metal is correct..just one small mistake..that root 2 facotr should not come...anyways brilliant attempt..do keep the spirit going..in any doubts..dont hesitate to ask me

Avirup Dasgupta

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5 Oct 2008 19:53:28 IST

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Sir, can you please tell me why the root 2 factor should not come-----where did I make the mistake???

Avirup Dasgupta

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5 Oct 2008 19:59:33 IST

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I have got my mistake and I have edited my reply.

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