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# EMI Calculator (C program to calculate EMI)

**EMI Calculator:** This program will read total loan amount (principal), rate and time in years and prints the per month EMI of that loan amount.

**The formula used in this program is:**

(P*R*(1+R)^{T})/(((1+R)^{T})-1)

Here,

**P** is loan amount.
**R** is interest rate per month - we will read in yearly and convert in monthly in program.
**T** is loan time period in year - we will read in yearly and convert in monthly in program.

## EMI Calculator program in C

/*EMI Calculator (C program to calculate EMI).*/
#include <stdio.h>
#include <math.h>
int main()
{
float principal, rate, time, emi;
printf("Enter principal: ");
scanf("%f",&principal);
printf("Enter rate: ");
scanf("%f",&rate);
printf("Enter time in year: ");
scanf("%f",&time);
rate=rate/(12*100); /*one month interest*/
time=time*12; /*one month period*/
emi= (principal*rate*pow(1+rate,time))/(pow(1+rate,time)-1);
printf("Monthly EMI is= %f\n",emi);
return 0;
}

**Output**

Enter principal: 20000
Enter rate: 10
Enter time in year: 2
Monthly EMI is= 922.899536

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